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U.S. Land Rig Count Drops by Two

The U.S. rig count released Friday was nearly flat with the previous week (declining by only two units), but the Canadian count added 25 units, according to Baker Hughes Inc. (BHI).

Overall in the United States, two land rigs departed activity, accompanied by one unit from the offshore; one rig returned to the inland waters. The U.S. count declined by two to end at 489, with 468 of these rigs running on land. Oil rigs were static at 406, but two natural gas rigs left, leaving 81 active, far from the 202 that were running one year ago. Three directional rigs were added, more than offset by the departure of three horizontals and two verticals.

In Canada, 19 oil rigs came back and six gas rigs returned, bringing those counts to 84 and 62, respectively. Alberta ended the week with 88 rigs, up from 79; British Columbia gained four to end at 15; Saskatchewan added 12 rigs to end at 37.

Texas production for June as reported to the Railroad Commission of Texas (RRC) was 72.86 million bbl of crude oil and 604.26 Bcf of total gas from oil and gas wells. These preliminary figures are based on production volumes reported by operators and will be updated as late and corrected production reports are received.

Production reported for the same period last year was 73.02 million bbl of crude oil updated to a current figure of 87.83 million bbl; and 615.76 Bcf of total gas, updated to a current figure of 723.22 Bcf. In the last 12 months, total Texas reported production was 1.013 billion bbl of crude oil and 8.3 Tcf of total gas. Crude oil production is limited to oil produced from oil leases and does not include condensate, which is reported separately. June production came from 185,622 oil wells and 93,371 gas wells.   

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