The latest oil and gas rig count provided by Baker Hughes Co. offers yet another indication of a slowing economy as numbers declined from the previous week. The report is being published one day early, due to Good Friday.
Baker Hughes reported a decline of four rigs leaving the nation’s total rig count at 751. Oklahoma’s count also fell, decreasing by one to 58. However, a year ago, the statewide total was 50.
The national count included a decline of two oil rigs, leaving 590 active while the number of gas rigs fell by two to 158. Nevertheless, the U.S. count is 62 more than a year ago when the nationwide total was 689. In the past year, the rig count showed a gain of 44 oil rigs and 17 more gas rigs.
The great state of Texas remained tops with a gain of one to reach 377 rigs while the count in New Mexico slipped one to 103 and North Dakota saw a drop of one to 40 active rigs. Louisiana slipped by one to 56 and Colorado’s count of 18 was one less than a week ago. The Kansas count, according to the Red Top Rig Report, declined by one to 39 rigs. Ohio remained at 11 rigs and Pennsylvania reported no change with its 24 rigs. West Virginia was unchanged at 16, and the count in Wyoming stayed at 19 rigs.
Oil and gas plays in Oklahoma were unchanged. The Ardmore Woodford stayed at 2 rigs while the Arkoma Woodford continued with one rig. The Granite Wash saw no change with 6 rigs, and the Mississippian continued with 2 rigs.
The Permian Basin count increased by one to 353 rigs while the Williston numbers dropped one to 41 rigs The Cana Woodford count declined by one to 30 rigs while the Barnett was unchanged at one rig. The D-J Niobrara slipped by one to 17 rigs, and the Haynesville was unchanged at 66. The Utica saw no change with its count of 11 rigs. The activity in the Marcellus remained unchanged with 40 rigs.
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