The US drilling rig count dropped 25 units to reach 1,050 rigs working for the week ended Jan. 18. The count is up 114 units from the 936 rigs working this time a year ago, according to Baker Hughes data.
Twenty-three fewer rigs were drilling on land week-over-week, bringing the number to 1,029. Two fewer rigs were counted offshore, bringing to 19 the total number of units drilling. Inland waters were unchanged at 2 rigs working for the week.
US oil-directed rigs dropped 21 units from last week to 852 units working but remained up from the 747 rigs drilling for oil this week a year ago. Gas-directed rigs were down 4 units at 198, and up from the 189 units drilling for gas a year ago.
Among the major oil and gas-producing states, Texas was down 11 rigs to 521 units working. Oklahoma was down 10 units to 126. California, down 3 units this week, reached 7 rigs working. Louisiana and Kansas, with respective counts of 61 and 1, were down 2 units each. Pennsylvania, at 48 this week, and Colorado, at 34, were down 1 rig each.
Utah was unchanged this week at 6 units working.
Six states were up 1 unit. These were New Mexico, 108; North Dakota, 54; Wyoming, 34; Ohio, 17; West Virginia, 15; and Alaska, 10.
Canada has added 25 rigs for the week. While the jump puts the total number of rigs running at 209, the count is less than the 325 units drilling this week a year ago.
The number of oil-directed rigs in Canada increased by 25, bringing the count to 128 rigs for the week. Gas-directed rigs were unchanged at 81 units.
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Related stocks: Keppel Corp, Sembcorp Marine & Cosco
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