The number of rigs working onshore in the Lower 48 U.S. states continues to fall, last week marking the eighth straight weekly drop, the 18th drop in the last 20 weeks – and the biggest one-week drop in four months, Kallanish Energy calculates.
For the week ended Aug. 23, the number of rigs working in the Lower 48 totaled 881, down 18 rigs from the previous week, and the most since the week ended April 26, when 19 rigs were laid down.
Working-rig count falls by biggest total in 4 months
|Week ended||Rigs working||Change from previous week|
(Source: Baker Hughes, a GE company)
The latest total was down 141 rigs, or 13.8%, from the year-ago total of 1,022, and down 35 rigs, or 3.8%, from the 916 rigs working during the week ended Aug. 25, 2017.
But the most recent total was up 417 rigs, or 89.9%, from the 464 rigs working during the week ended Aug. 26, 2016, according to the weekly working-rig survey by Baker Hughes, a GE company.
Looking at individual drilling areas, just five reported a week-to-week increase, eight were down, and 15 areas reported no week-to-week change in working rigs.
From a statewide perspective, West Virginia added the most rigs from week-to-week, with three, climbing to 19, while Pennsylvania recorded the biggest drop, down six rigs to 35, while dropped by five, to 445, and Colorado laid down four rigs, ending last week at 28.
This post appeared first on Kallanish Energy News.