Rig Count

Rig Count Update December 8, 2017

Oklahoma drops 1; U.S. Rigs Climb by 2 U.S. energy companies this week added oil rigs for a third week in a row, the longest string of increases since summer, while the overall US Rig Count is now up for the fifth straight week in a row, as higher crude prices are encouraging companies to drill for more.

Among major oil- and gas-producing states, Texas gained five rigs to total 459. Louisiana added one to 63 and New Mexico added three to 73.

Oklahoma, Colorado, North Dakota, Kansas and Ohio all had losses in their rig counts, potentially because of seasonably colder weather slowing activity in those areas.

The most active counties in Oklahoma with double-digit rigs running are Grady (31), Canadian (17), Kingfisher (16), Blaine (12) and Dewey (10).

The total oil and gas rig count in the United States now stands at 931 rigs, up 307 rigs from a year ago, with the number of oil rigs climbing by 2 while the number of gas rigs remained flat at 180. The number of oil rigs stands at 751 versus 498 a year ago.

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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