Drop in US rigs continues, count down 12
Baker Hughes reports the number of rigs drilling for oil and natural gas in the U.S. continues its steep drop, down by 12 the week ending Aug. 30 to 904, following a drop of 19 the week ending Aug. 23.
In its weekly rig count, the Houston oilfield services company said the active rig count was down 144 from 1,048 active rigs a year ago.
The company reported that 742 rigs targeted oil (down 12 from the previous week; down 120 from a year ago) and 162 targeted natural gas (unchanged from the previous week; down 22 from a year ago). There were no miscellaneous rigs active.
The company said 70 of the U.S. holes were directional, 784 were horizontal and 50 were vertical.
North Dakota was up three rigs from the previous week; Alaska was up by one.
The rig counts in California, Ohio and West Virginia were unchanged from the previous week.
Colorado, Louisiana, New Mexico, Pennsylvania, Utah and Wyoming were each down by one rig.
Oklahoma was down by two rigs.
Texas, the state with the most active rigs at 441, was down five from the previous week.
Baker Hughes shows Alaska with nine rigs active for the week ending Aug. 30, 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