US rig count slips from 20-year high

Aug. 4, 2006
US drilling activity slumped to 1,705 rotary rigs the week ended Aug. 4, down by 9 units from the previous week, which had the highest rig count so far this year, said Baker Hughes Inc.

By OGJ editors

HOUSTON, Aug. 4 -- US drilling activity slumped to 1,705 rotary rigs the week ended Aug. 4, down by 9 units from the previous week, which had the highest rig count so far this year, said Baker Hughes Inc.

In fact, the week ended July 28 marked the first time that the weekly US survey by Baker Hughes had topped the 1,700-rig mark since Jan. 17, 1986, when 1,773 rotary rigs were drilling in the US and its waters. That compares with 1,436 rigs working in the US during the same period in 2005.

Land operations accounted for the bulk of this week's loss, down by 9 rigs to 1,589 making hole. Inland water activity declined by 3 to 17 rigs still working. That was offset by a 3-rig increase in offshore drilling to 94 rigs in the Gulf of Mexico and 99 in US offshore waters as a whole.

Texas had the largest loss for the week, down by 10 rigs to 767 drilling. Louisiana, Colorado, New Mexico, and Alaska lost 1 rig each to respective totals of 186, 93, 88, and 8. On the other hand, rig counts in Oklahoma and Wyoming increased by 3 each to 194 and 107, respectively. California was up by 1 rig to 34 working.

Canada's rig count fell by 61 to 486 working this week. That was down from 557 active rigs during the same period a year ago.