US drilling rig count drops 2 to 988
The number of rigs drilling for oil and natural gas in the U.S. dropped by two the week ending May 10 to 988.
A year ago the count was 1,045 active rigs.
Houston oilfield services company Baker Hughes reported that 805 rigs targeted oil (down two from the previous week) and 183 targeted natural gas (unchanged).
The company said 71 of the U.S. holes were directional, 872 were horizontal and 45 were vertical.
The California rig count was up three from the previous week and Oklahoma was up by two.
Pennsylvania was up by one rig, as was Texas, the most active state, with 485 rigs.
Alaska, Colorado, Ohio, Utah and West Virginia were unchanged from the previous week.
Louisiana and North Dakota were each down one rig from the previous week.
Wyoming was down two rigs and New Mexico was down four.
Baker Hughes shows Alaska with nine active rigs, compared to eight a year ago.
The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May 2016 at 404.
- Petroleum News