BHI: US rig count upward momentum stymied, falls below 1,900 mark
The US drilling rig count lost 17 units to settle at 1,896 rigs working during the week ended Aug. 22, ending four consecutive weeks of gains, Baker Hughes Inc. reported.
Lands rigs took a big hit, relinquishing 19 units to 1,822. Offshore rigs cut down the overall total slightly by gaining 2 units to 64. Rigs drilling in inland waters were unchanged from a week ago at 10.
Oil rigs plummeted 25 units to 1,564, more than offsetting the 9-unit rise in gas rigs to 330. Rigs considered unclassified dropped 1 unit to 2.
Horizontal drilling rigs fell 8 units to 1,321, while directional drilling rigs fell 7 units to 209.
Canada’s rig count, meanwhile, gained 4 units to 405 overall, 22 more than its total for this week a year ago. Oil rigs jumped 12 units to 236 as gas rigs dropped 8 units to 169.
Major states, basins
Just a small handful of the major oil and-gas producing states reported gains during the week. Kansas’s 2-unit rise to 28 represented the most upward movement, with Louisiana, Wyoming, West Virginia, and Arkansas each edging up 1 unit to 117, 56, 30, and 12, respectively.
Unchanged from a week ago were New Mexico at 94, Ohio at 42, and Utah at 23.
Oklahoma, Colorado, Pennsylvania, and California each edged down 1 unit to 208, 74, 50, and 46, respectively. North Dakota dropped 2 units to 183. Alaska lost 3 units to 6. Texas, by far, lost the most units, marking off 13 to 888.
Reflecting Texas’s losses, the Permian’s 3-unit drop to 555 represented the most activity in the major US basins.