Weekly Summary: Rigs engaged in the exploration and production in the U.S. totaled 928 for the week ended October 13, 2017, down 8 from last week. Land rigs declined by 6 while the offshore rig count fell by 2. Rigs drilling in the inland waters remained flat for the week.
Oil Rig Count: The US crude oil rig count lost 5 down to 743 from October 6, – October 13, 2017. There are 311 more rigs targeting oil than last year. Rigs drilling for oil represent 80 percent of all drilling activity.
Natural Gas Rig Count: The natural gas rig count – which plunged to its lowest last August – fell 2 to 185. The number of rigs drilling for gas is 80 higher than last year’s level of 105.
Among major oil- and gas-producing states, Alaska, Kansas, North Dakota and Pennsylvania each gained one rig.
Texas lost four rigs, Oklahoma declined by three, California lost two and Louisiana and West Virginia each declined by one.
The rest were unchanged.
The 5 most active counties in Oklahoma with rigs running are Blaine (21), Kingfisher (18), Grady (16), Canadian (11) & Dewey (9).
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.