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U.S. Rig Count Continues Descent, For Oil and NatGas

The United States lost 48 more land drilling rigs as of Friday, down 37 for oil and 11 for natural gas, which cut the domestic count to 1,250, versus 1,696 a year ago, Baker Hughes Inc. reported. Twenty-two rigs also were lost in Canada.

The total North American rig count for the week stood at 1,670, compared with 2,403 in the year-ago period and 70 fewer than a week ago. A week ago, 98 U.S. rigs were dropped (see Shale Daily, Feb. 13).

The total domestic rig count, offshore and onshore, as of Friday stood at 1,310, compared with 1,771 in the year-ago period, and 52 were operating in the Gulf of Mexico, versus 57. A year ago, there were 1,425 oil rigs operating in the U.S. onshore, versus 1,019 on Friday and 1,056 the week before. The gas rig total as of Friday was 298 versus 342 year/year.

The U.S. horizontal total was 979 as of Friday, versus 1,182 a year ago, while the vertical count has fallen to 203 from 393. The domestic directional rig count has declined to 128 from 197.

In Canada, the rig count as of Friday stood at 360 versus 632 in the year-ago period. The oil rig count fell to 184 from 422, while the gas rig total stood at 176 versus 210.

Like a week ago, Texas took the brunt of the onshore cuts, down another 22 rigs. As of Friday, the state had 576 rigs in operation, versus 846 a year ago. Oklahoma lost 16 rigs from a week before, bringing the total number to 155 from 181 last year. Wyoming's rig count was down by four to 35 from 51.

Coinciding with producer announcements, the Permian Basin lost six rigs to bring its total count to 362, versus 487 in the year-ago period. Also down six was the Mississippian Lime, where the count stood at 48 versus 74 a year ago. The Williston Basin lost five rigs week/week to bring its total to 123 from 174. The Eagle Ford also dropped four rigs; it had 160 rigs in operation as of Friday, versus 221 a year ago. In the Denver-Julesburg/Niobrara formation, three rigs were dropped to bring the total to 39 from 54 a year ago.

Two states actually added rigs, with New Mexico's count up by six to 72; a year ago it had 81 rigs in operation. Louisiana added one rig to bring its total to 109, compared with 105 a year ago.

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