The number of rigs working onshore in the Lower 48 U.S. states last week continued its steady drop from the first of the year, data from oilfield services firm Baker Hughes Co. revealed.
Since the week ended Jan. 4, 2019, the U.S. has lost 250 rigs, Kallanish Energy calculates. In the last 43 weeks, five weeks reported an increase in working rigs from the previous week, two weeks recorded no change, and 43 weeks reported a week-to-week drop in working rigs.
Working-rig count falls yet again
|Week ended||Working-rig total||Change from previous week|
(Source: Baker Hughes Co.)
For the week ended Nov. 1, the working-rig count fell by seven, to 793, from 800 one week earlier. The latest total was down 248 rigs, or 23.8%, from the year-ago total of 1,041, was down 81 rigs, or 9.3%, from the 874 rigs working two years ago, but was up 256 rigs, or 47.8%, from the 537 rigs working three years ago.
Looking at individual drilling areas, three reported a week-to-week increase in working rigs, nine recorded a drop in rigs, and 17 areas reported no change in the number of working rigs.
The biggest week-to-week increases from a statewide perspective were found in Louisiana and Utah, each gaining a pair of rigs, climbing to 34 and five, respectively.
The biggest one-week loss, three rigs, was in Oklahoma, dropping to 51 working rigs, while Texas, New Mexico and Pennsylvania each lost two rigs, falling to 416, 108 and 25, respectively.
This post appeared first on Kallanish Energy News.