US rig count, down 2 units, stays below 1,000 for third week

The US drilling rig count fell 2 units to reach 988 rigs working for the week ended May 10—the third straight week below 1,000, according to Baker Hughes data. The count is down 57 units from the 1,045 rigs working this time a year ago.

May 10th, 2019

The US drilling rig count fell 2 units to reach 988 rigs working for the week ended May 10—the third straight week below 1,000, according to Baker Hughes data. The count is down 57 units from the 1,045 rigs working this time a year ago.

The number of rigs drilling on land fell by 2 units week-over-week to a total of 964 units. The number of rigs drilling in inland waters was unchanged at 4 units for the week. The number of rigs drilling offshore also remained unchanged at 20 units.

US oil-directed rigs increased by 2 from last week to reach 805 units. This time a year ago, 844 units were drilling for oil. Rigs targeting gas remained unchanged at 183 rigs, which was 16 fewer than were drilling for gas at this time a year ago.

With a 4-unit drop to reach 102 rigs working, New Mexico’s rig count fell the most among the major oil and gas-producing states.

Wyoming, at 30 rigs running this week, dropped 2 units. Louisiana, at 61, and North Dakota, at 56, both dropped a single unit from a week ago.

Six states remained unchanged this week. These were Colorado, 33; West Virginia, 21; Ohio, 16; Alaska, 9; Utah, 7; and Arkansas, 0.

Two states—Texas, 485, and Pennsylvania, 43—gained a single rig this week. California saw the largest increase in rigs this week with an additional 3 units to reach 15.

Canada’s rig count increased 2 units for the week. At 63 rigs, the count is 16 fewer than the 79 units drilling this week a year ago. With 22 rigs drilling, Canada’s oil-directed rigs gained 5 units this week. Gas-directed rigs in Canada were down 3 units to 41.

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