US rotary rig count up by 3, now at 269
The Baker Hughes U.S. rotary rig count was at 269 for the week ending Oct. 9, up by three from 266 the previous week but down by 587 from 856 a year ago.
The count hit 244 the week of Aug. 14, the lowest it has been since the Houston based oilfield services company began issuing a weekly U.S. rig count in 1944.
Prior to this year, the low was 404 rigs in May 2016. The count peaked at 4,530 in 1981.
At the beginning of the year the count was in the low 790s, where it remained through mid-March, when it began to fall, dropping below what had been the historic low in early May with a count of 374 and continuing to drop through the third week of August when it gained back 10 rigs.
This week’s count includes 193 rigs targeting oil, up four from the previous week and down 519 from a year ago, 73 rigs targeting gas, down one from the previous week and down 70 from a year ago and three miscellaneous rigs, unchanged from the previous week and up two from a year ago.
Twenty-one of the holes were directional, 233 were horizontal and 15 were vertical.
Alaska count unchangedThe rig count for Texas (116), which has the most active rigs in the country, was up by three from the previous week, but down 304 from 420 a year ago.
New Mexico (45) was up by one rig from the previous week.
Pennsylvania (18) was down by one.
The rig counts in all other states remained changed from the previous week: Alaska (2), California (4), Colorado (5), Louisiana (40), North Dakota (10), Ohio (6), Oklahoma (12), West Virginia (7) and Wyoming (1).
Baker Hughes shows Alaska with two active rigs Oct. 10, unchanged from the previous week and down by six from a year ago.
The rig count in the nation’s most active basin, the Permian (130), was up by one from the previous week.
- KRISTEN NELSON