Baker Hughes: US rig count down 1 unit to 790

The US drilling rig count declined by 1 unit to reach 790 for the week ended Feb. 28, data from Baker Hughes indicate. The report shows an overall decrease of 248 units from year-ago levels.

Offshore units remained unchanged this week at 22 rigs. A total of 767 rigs were drilling on land, down 1 unit from last week. The number of rigs drilling in inland waters remained unchanged at 1 rig working.

Rigs targeting oil declined by 1 unit to 678, and down 165 from the 843 rigs drilling for oil this week a year ago. Gas-targeted rigs remained unchanged at 110. This time last year, 195 units were drilling for gas.

Texas saw the largest increase in rigs week-over-week with a gain of 4 units to 401 rigs running. Wyoming gained 2 rigs to reach 23, while Colorado gained 1 unit to reach 21 rigs working for the week.

Seven states remained unchanged week over week, namely New Mexico, 115; North Dakota, 52; Pennsylvania, 24; West Virginia, 14; California, 13; Ohio, 11; and Utah, 6

Oklahoma dropped 3 units to 48 rigs running. Louisiana and Alaska each dropped 2 rigs to reach 49 and 10 rigs running, respectively.

The rig count in Canada is down 4 units to 240. This time a year ago, 211 rigs were working. Oil-directed rigs were down 6 units this week to 163, while those targeting gas gained 2 units to 77.