Baker Hughes: US rig count down 4 units to 790

The US drilling rig count fell 4 units, reaching 790 rigs working for the week ended Jan. 31, according to Baker Hughes data. The count is down 255 units from the 1,045 rigs working this time a year ago.

The number of rigs drilling on land dropped 4 units week-over-week to a total of 768. The number of rigs drilling in inland waters was unchanged at a single unit drilling for the week. The number of rigs drilling offshore remained unchanged at 21.

US oil-directed rigs decreased by 1 unit from to 675. This time a year ago, 847 units were drilling for oil. Rigs targeting gas decreased by 3 units to reach 112, which was 86 fewer than were drilling for gas at this time a year ago.

Among the major oil and gas-producing states, Colorado was the only one to see an increase week-over-week. With a gain of 1 unit, the state ended the week with 22 rigs running.

Texas and Louisiana both dropped 2 rigs to reach 395 and 52, respectively.  Alaska was down a single rig to hit 9 rigs running for the week.

Nine states were unchanged for the week: New Mexico, 109; Oklahoma 53; North Dakota 52; Pennsylvania 25; West Virginia, 15; California, 14; Ohio, 11; Wyoming, 23; and Utah, 5.

Canada’s rig count increased by 3 units for the week. At 247 rigs, the count is 4 more than the 243 units drilling this week a year ago. Rigs drilling for gas in Canada were unchanged at 90 units for the week. Three additional rigs were drilling for oil this week to reach a total of 157.