BHI: US rig count continues to tumble, falls 43 units to 1,267

The US drilling rig count declined 43 units—down from losses of 48 last week and 98 the previous week—to settle at 1,267 rigs working during the week ended Feb. 27, according to data from Baker Hughes Inc.

The US drilling rig count declined 43 units—down from losses of 48 last week and 98 the previous week—to settle at 1,267 rigs working during the week ended Feb. 27, according to data from Baker Hughes Inc.

That total is the lowest since Jan. 15, 2010, and 502 fewer units compared with this week a year ago. The count has now fallen in 13 consecutive weeks, losing 653 units during that time (OGJ Online, Dec. 5, 2014).

During the week, land rigs fell 42 units to 1,208 while offshore rigs fell 3 units to 51. Rigs drilling in inland waters gained 2 units to total 8.

Oils rigs dropped 33 units to 986, dipping to fewer than 1,000 for the first time since June 17, 2011. Gas rigs dropped 9 units to 280. Rigs considered unclassified were halved to 1 unit operating.

Rigs engaged in horizontal drilling fell 33 units to 946, the lowest total since Nov. 19, 2010. Since Nov. 21, 2014, 426 units have gone offline. Rigs drilling directionally, meanwhile, merely edged down a unit to 127.

Canada’s rig count relinquished 30 units to 330, representing 296 fewer units compared with this week a year ago. Of the 30 lost, gas rigs declined 17 units to 159 and oil rigs declined 13 units to 171.

Major states, basins

For the first time in weeks, Texas was supplanted as leader in losses by another major oil- and gas-producing state.

North Dakota’s 11-unit drop to 108 brought the state to its lowest total since May 28, 2010. Those declines were reflected in a 12-unit drop in the Williston to 111, leading the major US basins.

Oklahoma was next up with a 9-unit fall to 146, reflecting a 4-unit drop in the Cana Woodford. Louisiana fell 7 units to 102. Texas fell 6 units to 570, with one offshore rig coming online. That’s Texas’s lightest decline since Dec. 19. The Permian fell just 7 units to 355. New Mexico fell 4 units to 68.

Colorado dropped 3 units to 44. Wyoming dropped 2 units to 33. Ohio, Kansas, and West Virginia each edged down a unit to 36, 17, and 16, respectively.

Unchanged from a week ago were Pennsylvania at 54, California at 15, and Utah and Arkansas each at 11.

Alaska, meanwhile, was the only state to report a gain, shooting up 5 units to 12.

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