The US rig count during the week ended Sept. 15 recorded its largest decline since the end of the drilling dive of late-2014 to mid-2016.
Baker Hughes’ tally of active rigs fell 8 units to 936, down 22 units since a peak of the rebound on July 28. The count is still up 532 units since the modern low in Baker Hughes data touched May 20-27, 2016.
All but 1 of the 8 rigs to stop work targeted oil, bringing that tally to 749, down 17 units since July 28 but up 433 units since its bottom on May 27, 2016. The gas-directed rig count is 186 after edging down a unit. One rig considered unclassified remains drilling.
Land-based rigs dropped 8 units to 915, reflecting declines in rigs drilling vertically and directionally. Rigs drilling horizontally gained 2 units to 795 after falling in 6 straight weeks.
One rig drilling in inland waters stopped work, bringing that tally to 4. The overall US offshore count gained a unit off Louisiana and now totals 17.
Texas and Louisiana each fell 3 units to 452 and 62, respectively. Texas has dropped 14 units over the past 6 weeks and is up 279 since May 20-27, 2016.
The Permian and Eagle Ford each decreased 2 units to 380 and 71, respectively. The Permian’s count is mostly unchanged since July 28 while the Eagle Ford’s has dropped 15 units since the peak of its rebound on June 2.
New Mexico, North Dakota, and Colorado each edged down a unit to respective totals of 67, 52, and 35. The Williston and DJ-Niobrara accordingly fell 1 unit each to 52 and 28, respectively.
The Cana Woodford also declined 3 units and now counts 64.
West Virginia was the only state to post an increase, edging up a unit to 16, with the Marcellus also gaining a unit to 47.
Canada’s overall count jumped 10 units to 212. Oil-directed rigs accounted for the entire increase and now total 112.
Contact Matt Zborowski at [email protected].