US rig count continues to fall, down by 8
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Kristen Nelson Petroleum News
Baker Hughes reports the number of rigs drilling for oil and natural gas in the U.S. continued to fall the week ending Nov. 1, down by eight to 822, following a steep drop of 21 rigs the previous week.
In its weekly rig count the Houston oilfield services company said the active rig count was down 245 from 1,067 active rigs a year ago.
The company reported that 691 rigs targeted oil (down five from the previous week; down 183 from a year ago) and 130 targeted natural gas (down three from the previous week; down 63 from a year ago). There was one miscellaneous rig active (that count unchanged from the previous week and down one from a year ago).
The company said 53 of the U.S. holes were directional, 717 were horizontal and 52 were vertical.
Louisiana and Utah (with only five rigs active) were each up two from the previous week.
Rig counts in California, North Dakota, Ohio, West Virginia and Wyoming were unchanged.
Alaska and Colorado were each down by one rig.
New Mexico Pennsylvania and Texas (with the largest number of active rigs at 416) were each down two rigs from the previous week.
Oklahoma had the largest week over week drop, down three.
Baker Hughes shows Alaska with seven rigs active for the week ending Nov. 1, up from five a year ago.
The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May 2016 at 404.
- KRISTEN NELSON
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