The US drilling rig count decreased 2 units to reach 603 rigs working for the week ended May 10, according to Baker Hughes data. The count is down 128 units from the 731 rigs working this time a year ago.
The number of rigs drilling on land fell by 3 week-over-week with a total of 584 units. The number of rigs drilling in inland waters was unchanged at 0 for the week. The number of rigs drilling offshore increased by 1 to 19.
US oil-directed rigs decreased by 3 from last week to reach 496 units. This time a year ago, 586 units were drilling for oil. Rigs targeting gas increased by 1 unit to reach 103 rigs, 38 fewer than were drilling for gas at this time a year ago.
Of the major oil and gas-producing states, Texas saw the largest decrease. With a 3-rig drop, the state ended the week with 289 rigs running. Oklahoma dropped 2 rigs to end the week with 43.
Three states increased rig counts. New Mexico, Louisiana, and Utah each added a single rig to end the week with respective counts of 109, 39, and 12.
Canada’s rig count decreased by 4 units this week. With 116 rigs working, the count is 22 more than the 94 units drilling this week a year ago. At 60 units, Canada’s oil-directed rig count is unchanged from last week. The gas-directed rig count in Canada is down 4 units to 56.