The number of rigs working onshore in the Lower 48 U.S. states last week fell by two, and brought to five the number of consecutive weeks the count has slipped, data from Baker Hughes, a GE company, reveals.
At May 10, 955 rigs were working in the Lower 48, down two rigs from the previous week, and off 59 rigs, or 5.8% from the year-ago total of 1,014, but up 101 rigs, or 11.8%, from two years ago, when 854 rigs were working, Kallanish Energy calculates.
The latest total from Baker Hughes also was up 578 working rigs, or 153.3%, from just 377 rigs working during the week ended May 13, 2016.
Lower 48 working-rig count continues to fall
|Week ended||Rigs working||Change from previous week|
(Source: Baker Hughes, a GE company)
In the last five weeks, the Lower 48 drilling areas have lost a combined 37 rigs.
Looking at individual drilling areas, eight reported a week-to-week increase in working rigs, the same number recorded a drop in working rigs, and 11 drilling areas reported no week-to-week change.
The biggest week-to-week increase in working rigs was in California, up three, to 15 rigs. The biggest week-to-week drop was in New Mexico, down four rigs, to 102.
Texas, the state with the most rigs working, gained a single rig last week, to 482 rigs, Baker Hughes reported.
This post appeared first on Kallanish Energy News.