AlwaysFree: US Drilling Rig Count Down Last Week

By the week ended June 26, US drilling rig count went down by 1 unit to 265, according to Baker Hughes. Year-on-year it was a 702 units slump.

The onshore unit fell by 1 unit week-on-week to 254 units but the offshore units were unchanged at 11. There was no change in units drilling in inland waters, at 0.

Oil-targeting rigs plunged by 605 units year-on-year to 188 units, or by 1 week-on-week. Gas-targeting rig count did not show any weekly change at 75 but posted a 173 units nosedive yearly.

Texas and Oklahoma recorded gains in weekly rig count, to 112 and 10 working rigs respectively. On the other hand, New Mexico, Colorado, and Wyoming posted 1 unit each while eight states remained unchanged on a weekly basis.

In Canada, the rig count slipped by 4 to 13 units, excessively dropped from 124 units in the same period a year ago. Rigs targeting oil slipped by 1 unit week-on-week to 4 rigs, and rigs targeting gas edged down by 3 units to 9.

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