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US rig count down by two, Canadian rig count down 43: Baker Hughes

Rig count by Baker Hughes

rig count

According to Baker Hughes, the Canadian rig count dropped significantly.  Only 12 rigs were searching for oil in Canada last week down from 44 last week.  Photo courtesy Progress Energy.

HOUSTON _ While rig counts in the United States only dropped by two this past week, the rig count in Canada is down significantly, ending the week with 43 less rigs exploring for oil and natural gas.

Oil services company Baker Hughes reports that in the US, the rig count is now 698, down 1113 from this time last year when 1811 rigs were operational.

Texas reported two new rigs while Pennsylvania has one new rig.  Ohio, Oklahoma and West Virginia were all down by one rig and California and North Dakota both lost two rigs.  Alaska, Arkansas, Colorado, Kansas, New Mexico, Utah and Wyoming were all unchanged.

Meanwhile in Canada, there were 32 less rigs searching for oil and 11 less natural gas rigs operating.  There are currently 12 oil rigs and 71 gas rigs in Canada.  These numbers are down from this week in 2014 when 52 oil and 156 gas rigs were working.

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

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