The U.S. oil and gas drill count is off to a rocky start this year after losing 34 rigs last week.

According to Baker Hughes, the number of rigs drilling for oil and gas in the United States fell to 664 as of January 8, down from 1,750 rigs a year ago.

The U.S. rig count is now at its lowest level in more than five years, Retuers said.

The oil rig count fell by 20 to 516 rigs last week, down from 1,421 rigs a year ago, while the gas rig count slipped to 148 after a 14 rigs loss.

Horizontal drillers recorded the largest dip last week, with a 30 rig loss dragging their rig count down to 519 rigs from 1,301 rigs a year ago.

The vertical rig count fell to 81 rigs after an eight rig drop while directional drillers bumped their count up to 64 rigs after adding four.

Arkansas, Kansas and Wyoming lost one rig each while Alaska and Pennsylvania dropped two rigs each.

West Virginia lost three rigs and New Mexico, North Dakota and Oklahoma each lost four rigs.

Rig counts in California, Ohio and Utah held steady from last week.

Texas lost 13 rigs last week, the largest drop of all the major states.

Drillers in the Permian Basin, located in Texas, dropped eight rigs while the Eagle Ford Basin lost five rigs.

The Williston Basin, home of the Bakken shale play, saw its rig count drop by four rigs to 49, down from 171 rigs a year ago.

Drillers in the Marcellus shale play dropped four rigs and the rig count in the Utica Basin fell to 14 rigs after a one rig loss.

The Gulf of Mexico saw its rig count climb to 27 after adding two rigs.

Canada’s drill count surged up to 166 rigs, an 83 rig gain over the last week.


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