The US drilling rig count dropped 7 units to reach 748 during the week ended May 5, data from Baker Hughes indicate. The report shows an overall increase of 43 units from year-ago levels.
Offshore units were up a single unit this week with 21 rigs running. A total of 725 rigs were drilling on land, down 8 units from last week. Units in inland waters were unchanged at 2.
Rigs targeting oil fell 3 units to 588 for the week, up 31 from the 557 rigs drilling for oil this week a year ago. Gas-targeted rigs were down 4 units to 157. This time last year, 146 units were drilling for gas.
With the only increases among the major oil and gas producing states, Louisiana, Oklahoma, and California each gained a single rig. Respective rig counts for the week are 61, 54, and 3.
Texas dropped 9 units to land at 368 rigs running. North Dakota’s rig count decreased by a single unit to reach 38 rigs working for the week.
The rig count in Canada is unchanged at 93 units working this week. This time a year ago, 91 rigs were working. Oil-directed rigs were down 2 units this week to 34, while those targeting gas increased by 2 units to reach 59 for the week.