The total active U.S. rig count fell by 1 to 935, according to Baker Hughes. That’s still up from the 511 rigs that were active a year ago.
WTI futures for November delivery rose 11 cents to settle at $50.66 a barrel, while on London’s Intercontinental Exchange, Brent gained 27 cents to trade at $56.70 a barrel.
Oil rigs in the United States now number 744—326 rigs above this time last year. Although the number of oil rigs are still up significantly year over year, the increases slowed in the Q2 2017, and have reversed in Q3. The third quarter, for which there is still one week to go, has seen the total number of rigs decrease by 12.
*U.S. TOTAL RIG COUNT DOWN 1 AT 935
*U.S. OIL RIG COUNT DOWN 5 AT 744
*U.S. GAS RIG COUNT UP 4 TO 190
Among major oil- and gas-producing states, Louisiana gained three rigs. Alaska, New Mexico, and Texas each gained one rig.
North Dakota and Oklahoma lost three rigs each, and Colorado lost two rigs.
California, Ohio, Pennsylvania, Utah, West Virginia, and Wyoming were unchanged.
The 5 most active counties in Oklahoma with rigs running, are Blaine (21), Kingfisher (17), Grady (16), Canadian (13) & Dewey (11)
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.