Baker Hughes: US rig count down 2 units to 251

The US drilling rig count fell 2 units, reaching 251 rigs working for the week ended July 24, according to Baker Hughes data. The count is down 695 units from the 946 rigs working this time a year ago.

The number of rigs drilling on land dropped 2 units week-over-week to a total of 239 units. The number of rigs drilling offshore was unchanged at 12.

US oil-directed rigs increased by 1 from last week to reach 181 units. This time a year ago, 776 units were drilling for oil. Rigs targeting gas decreased by 3 units to reach 68 rigs, 101 fewer than were drilling for gas at this time a year ago.

Only one among the major oil and gas-producing states saw an increase this week. With 51 rigs running, New Mexico’s rig count is up one from last week.

Texas, Pennsylvania, and West Virginia each dropped a single rig for the week to reach 103, 20, and 5 rigs running, respectively.

Ten states remained unchanged this week, namely Louisiana, 30; North Dakota, 10; Oklahoma, 10; Ohio, 6; Colorado, 5; California, 4; Alaska, 3; Wyoming, 1; Kansas, 0; and Utah, 0.

Canada’s rig count increased by 10 rigs for the week. At 42 rigs, the count is 85 fewer than the 127 units drilling this week a year ago. With 10 rigs drilling, Canada’s oil-directed rigs increased by 4 for the week. Gas-directed rigs in Canada increased by 6 to reach 32.