By February 26, 2016 0 Comments Read More →

Baker Hughes US rig count down by 12, Canadian count down 31

Rig count ending Feb. 26 2016

rig count

The Baker Hughes rig count is released every Friday. Repsol photo.

HOUSTON_On Friday, Baker Hughes reported another week where fewer rigs were exploring for oil and gas in the United States and Canada.

According to the oilfield services giant, this is the eighth straight week where the rig count dropped in the US.

During the week ending on Feb. 26, 2016, there was a total of 502 oil and gas exploration rigs operational, down from 514 in the previous week.

There were 13 fewer oil rigs up and running, down from 413 last week to 400 this week, while the number of gas rigs increased by one to 102.

Texas saw the largest drop in rig count, with a loss of five, from 236 to 231.

New Mexico was down by three rigs to 18 while Alaska and California both reported two fewer rigs.  Four states, Ohio, Pennsylvania, Utah and Wyoming were all down by one rig.  Arkansas, Colorado, Kansas, North Dakota and Oklahoma all remained steady while West Virginia gained one rig.

At this time last year, there were 986 oil rigs and 280 gas rigs operational in the US.

North of the border in Canada, there was a significant drop in the number of rigs exploring for oil and natural gas.

There were 83 oil rigs, down from 109 and 92 gas rigs, down from 97 reported last week.

During the same period last year in Canada, the rig count reported 171 oil rigs and 159 gas rigs operational.

 

The U.S. rig count peaked at 4,530 in 1981 and bottomed at 488 in 1999.

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