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US rig count rises this week by 8, to 941

US rig count rises this week by 8, to 941”

In the past 32 weeks, the total USA rig count has gone down only once.

Drillers added 11 oil rigs in the week to June 23, bringing the total count up to 758, the most since April 2015, energy services firm Baker Hughes Inc said in a report on Friday. Reeves' count jumped five to 66.

Railroad Commission District 8 moved three higher to 254. Two rigs shut down in Alaska, and one came offline in both New Mexico and Utah. At this point a year ago, by contrast, there were 36 and 39 oil and gas-targeting rigs, respectively.

Texas' statewide count held steady at 460 this week.

There was no change in the number of rigs in Texas for the second successive week while there was an increase in the number of rigs in Oklahoma to 132 from 127 previously. Its two rigs not in the Permian Basin were located in San Juan County in the northwestern part of the state.

The number of rigs hunting for oil and gas across the nation rose to 941 this week, up from a record low of 404 in May 2016.

The U.S. rig count peaked at 4,530 in 1981. An additional rig in inland waters pushed that tally to four. Offshore rigs are unchanged at 22.

Basins with the highest rig counts were the Permian, the Eagle Ford, the Cana Woodford (60), the Williston (52) and the Marcellus (45). This week, Canada saw another large growth spurt, adding 11 rigs. Seven new rigs were searching for oil, and four explored for natural gas. Currently, there are 98 oil-targeting rigs and 72 gas-targeting rigs in Canada. Canada had 76 rigs a year ago. The 792 active horizontal rigs represent 84% of the total number of rigs in the U.S. At this time a year ago, there were 497 rigs in North America.



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