The number of rigs working in the Lower 48 U.S. states fell slightly last week, but remained above 1,000 rigs as it has since the week of May 18, 2018, data from Baker Hughes, a GE company, reveals.
At Feb. 22, 1,013 rigs were working in the Lower 48, down three rigs from the previous week, but up 63 rigs, or 6.6%, from the year-ago total of 950 working rigs.
The latest total also was up 287 rigs, or 39.5%, from the 726 rigs working during the week ended Feb. 24, 2017, and was up 542 working rigs, or 115% higher, than the 471 rigs working during the week ended Feb. 26, 2016.
In the latest weekly survey, five drilling areas reported a week-to-week increase in working rigs, eight areas recorded a drop in working rigs, and 15 working areas reported no week-to-week change in the number of rigs working.
Looking at individual states, Oklahoma and Texas each lost two rigs last week, dropping to 117 and 506, respectively. No state gained more than a single rig in the latest Baker Hughes weekly survey.
This post appeared first on Kallanish Energy News.