Baker Hughes: US rig count down 73 units to 529

The US drilling rig count fell 73 units, reaching 529 rigs working for the week ended Apr. 17, according to Baker Hughes data. The count is down 483 units from the 1,012 rigs working this time a year ago.

The number of rigs drilling on land dropped 72 units week-over-week to a total of 512 units. The number of rigs drilling in inland waters was unchanged at 0 units for the week. The number of rigs drilling offshore was down 1 to 18.

US oil-directed rigs decreased by 66 from last week to reach 438 units. This time a year ago, 825 units were drilling for oil. Rigs targeting gas decreased by 7 units to reach 89 rigs, 98 fewer than were drilling for gas at this time a year ago.

Among the major oil and gas-producing states, only a single rig was added week over week. With the gain, 25 rigs are running in Pennsylvania.

Texas dropped the largest number of rigs. At 262 rigs running, the count is 40 fewer than the previous week. New Mexico’s rig count fell by 9 to reach 84 rigs running, while North Dakota’s count is 7 fewer, leaving 34 rigs working for the week.

West Virginia and Wyoming each dropped 4 rigs to reach 10 and 6 rigs running, respectively.

Alaska’s rig count fell by 3. Three rigs are currently running. Louisiana and Oklahoma each dropped 2 rigs to reach 41 and 24 rigs running, respectively.

With a 1-rig drop, 5 rigs are left running in Utah for the week.

Four states remained unchanged this week, namely Colorado, 16; California, 8; Ohio, 9; and Kansas, 0.

Canada’s rig count decreased by 5 units for the week. At 30 rigs, the count is 36 fewer than the 66 units drilling this week a year ago. With 7 rigs drilling, Canada’s oil-directed rigs increased by 1 unit this week. Gas-directed rigs in Canada decreased by 6 units to reach 23.