US drilling rig count drops 1 to 990
Petroleum News
The number of rigs drilling for oil and natural gas in the U.S. dropped by one the week ending May 3 to 990.
A year ago the count was 1,032 active rigs.
Houston oilfield services company Baker Hughes reported that 807 rigs targeted oil (up two from the previous week) and 183 targeted natural gas (down three).
The company said 71 of the U.S. holes were directional, 873 were horizontal and 46 were vertical.
The Alaska rig count was up three from the previous week. New Mexico was up two.
Colorado, Ohio and Oklahoma were each up one rig.
The rig counts in California, West Virginia and Wyoming were unchanged.
North Dakota and Pennsylvania were each down one rig.
Texas, the most active state with 484 rigs, was down seven from the previous week.
Baker Hughes shows Alaska with nine active rigs, compared to six a year ago.
The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May 2016 at 404.
- Petroleum News
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