Rig Count

Rig Count July 21, 2017

 

The rig count has fallen or barely increased in recent weeks, suggesting early signs of moderating U.S. production growth.

*U.S. TOTAL RIG COUNT DOWN 2 AT 950

*U.S. OIL RIG COUNT MINUS 1 TO 764

*U.S. GAS RIG COUNT DOWN 1 TO 186

Among major oil- and gas-producing states, Louisiana gained four rigs, California increased by two and North Dakota and Utah each gained one.

Oklahoma and Texas each declined by three, New Mexico fell by two and Alaska decreased by one. The rest were unchanged.

The 5 most active counties in Oklahoma with rigs running, are Kingfisher (22), Blaine (21), Grady (18), Canadian (10), and Dewey (9).

Multiple changes also occurred among the individual basins tracked by Baker. Two rigs came online in the Haynesville, and one rig each became active in the DJ-Niobrara, Permian and Williston. One rig shut down in the Arkoma Woodford, Barnett and Mississippian. Two rigs went offline in the Eagle Ford.

Meanwhile, US crude tumbles after a report of rising OPEC oil output. WTI ended Friday’s session down $1.15, or 2.5 percent, at $45.77 per barrel.

The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May of 2016 at 404.

Compiled and Published by GIB KNIGHT

Gib Knight is a private oil and gas investor and consultant, providing clients advanced analytics and building innovative visual business intelligence solutions to visualize the results, across a broad spectrum of regulatory filings and production data in Oklahoma and Texas. He is the founder of OklahomaMinerals.com, an online resource designed for mineral owners in Oklahoma.

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