The total count of active U.S. drilling rigs continues to climb, posting a modest increase of 7 rigs to 908. Oil rigs rose by 2 to 722, while gas rigs gained 5 to 185; one rig is labeled miscellaneous; it was the first time the increase in gas rigs outpaced the gain for oil rigs since January.
The news marks the 19th consecutive weekly build in the rig count and comes one day after the Organization of the Petroleum Exporting Countries, or OPEC, agreed to extend a 1.8 million barrel per day production cut for nine months through March 2018. Texas lost 1 rig while Oklahoma gained 1.
The Permian gained 1 while the Cana Woodford climbed 3 rigs.
Check out our proprietary and interactive Rig Count Dashboard.
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.