BHI: US rig count posts double-digit decline for second straight week
The US drilling rig count dropped 13 units to 744 rigs working despite the shortened week ended Nov. 25 due to the Thanksgiving holiday in the US, according to Baker Hughes Inc. data. The new total is the lowest since Apr. 5, 2002, and down 1,173 year-over-year.
Since Aug. 21, the overall count has fallen 141 units after a short-lived summer rebound (OGJ Online, Aug. 21, 2015). Ten units went offline during the week ended Nov. 20 (OGJ Online, Nov. 20, 2015).
Also down 10 units last week, oil-directed rigs lost 9 units this week to 555, their lowest level since June 4, 2010 and down 1,017 year-over-year. Since Aug. 28, the oil-directed total has fallen 120 units (OGJ Online, Aug. 28, 2015).
Gas-directed rigs relinquished 4 units to 189.
Land-based units declined for a 14th consecutive week, dropping 12 units to 713, down 1,138 year-over-year. Rigs engaged in horizontal drilling plunged 12 units to 569, down 802 year-over-year. Directional drilling rigs again decreased 3 units to 66.
Offshore rigs were unchanged at 30. Rigs drilling in inland waters halved to only 1 unit.
Canada, meanwhile, shot up 18 units to 184, which was still down 254 rigs year-over-year. Most of the rigs that came online this week target oil. Up 14, that count is now 81. Gas-directed rigs gained 4 units to 103.
Texas hits new low
Texas led the major oil- and gas-producing states with a 6-unit loss to 336, its lowest point since July 10, 2009, and down 565 year-over-year. The Permian fell 4 units to 221, down 345 year-over-year; and the Eagle Ford fell 2 units to 73, down 136 year-over-year.
Losing 1 unit each were Louisiana at 64, North Dakota at 62, Pennsylvania at 29, Colorado at 28, Wyoming at 20, Alaska at 12, and California at 9.
Unchanged from Nov. 20 were Ohio at 19, West Virginia at 14, Kansas at 10, Utah at 5, and Arkansas at 4.
Edging up 1 unit to 82, Oklahoma was one of two states to post an increase. The Mississippian was the only major basin to post an increase, gaining 3 units to 12. New Mexico led all with a 2-unit gain to 40.
Contact Matt Zborowski at [email protected].
