The US drilling rig count dropped 1 unit to reach 592 rigs working for the week ended Mar. 7, according to Baker Hughes data. The count is down 30 units from the 622 rigs working this time a year ago.
The number of rigs drilling on land fell 2 units week-over-week to a total of 576 rigs running. The number of rigs drilling in inland waters remained unchanged at 2 units. One additional rig was drilling offshore for a total of 14 rigs working for the week.
US oil-directed rigs were unchanged from last week at 486 units. A year ago, 504 units were drilling for oil. Gas-directed rigs fell by 1 to 101 rigs, 14 fewer than were drilling for gas a year ago.
Only one of the major oil and gas-producing states, Wyoming, saw an increase in rigs week-over-week. With a total of 21 rigs running, the rig count is up by 1 unit from last week and up 10 from this time a year ago.
Two states dropped a single rig this week, namely Texas, 281; and Colorado, 8.
Canada’s rig count fell by 14 units for the week. At 234 rigs working, the count is 9 more than the 225 units drilling during the year-ago period. A 7-rig drop brought the oil-directed rig count to 170 for the week. Gas-directed rigs in Canada also decreased by 7 units to reach 64.
