North American rig count drops again this week

North American rig count down 23 for week ending April 24

rig count
US rig count was down by 23 this past week.

Baker Hughes reports the North American rig count has declined by 23 this week and in the US, rig counts are down by 22.

A total of 1011 rigs were operational in North America, 932 in the US, 33 in the Gulf of Mexico and 79 in Canada.

Last week, Baker Hughes reported 1034 rigs were exploring for oil and natural gas in North America.  954 of those were in the US.

In the major oil and gas producing states loses of 19 rigs were noted in Texas, five in North Dakota, three in Oklahoma and Alaska, New Mexico and West Virginia each lost one.

Gains of one rig were seen this week in Arkansas, California, Colorado, Kansas and Pennsylvania.  Louisiana gained two rigs while Ohio, Utah and Wyoming rig counts remained unchanged.

In Canada, oil rig counts dropped from 20 to 16 while gas rigs jumped from 60 to 63.

The drop in oilfield activity is attributed to low oil and natural gas prices.

According to Baker Hughes, the US rig count peaked at 4,530 in 1981 and bottomed at 488 in 1999.

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