The overall U.S. rig count grew by three this week, but data wasn’t collected for southern Texas because of Harvey except for one rig departure in Dimmit County, according to weekly data collected by Baker Hughes.
A year ago, just 497 rigs were active.
Oil prices traded in a narrow range today, with October West Texas Intermediate crude closing up only 6 cents, at $47.28 a barrel on the New York Mercantile Exchange.
*U.S. TOTAL RIG COUNT UP 3 AT 940
*U.S. OIL RIG COUNT FLAT AT 759
*U.S. GAS RIG COUNT UP 3 TO 183
Among major oil- and gas-producing states, New Mexico added three rigs. Alaska gained two and Pennsylvania one.
Texas and Wyoming each lost a rig.
The rest were unchanged.
The 5 most active counties in Oklahoma with rigs running are Blaine (26), Kingfisher (17), Grady (16), Dewey (14) and Canadian (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.