Rig count drops in U.S., Canada

Petroleum News staff-Houston

The red hot North American rig market finally cooled down during the week ending Aug. 8, with the count dropping by 42 active rigs to 1,471, according to rig monitor Baker Hughes. The count was down in both the United States and Canada.

In the United States, the total number of active rigs stood at 1,074, down 23 from the prior week but up a strong 220 compared to the same period last year. For the recent week, land rigs fell by 17 to 952 and the combined offshore-inland waters count declined by five rigs to 106.

In Canada, the weekly count fell by 19 rigs to 397 but was up 206 compared to the same period last year, Baker Hughes said.

For the United States and Canada, a combined 920 rigs were drilling gas wells during the week ending Aug. 8, down 17 from the previous week. On the oil side, the count stood at 149 rigs, down seven from the prior week. The miscellaneous rig count rose by one to five.

The weekly rig count fell in all but two of the leading seven producing states. California’s increased by one to 23 while Wyoming’s was unchanged at 65. Texas fell by six to 469, Louisiana fell by six to 152, Oklahoma fell by five to 135, New Mexico fell by two to 59, and Alaska fell by one to seven.