The US drilling rig count is up 4 units to 1,049 rigs working for the week ended Feb. 8, according to Baker Hughes data. The count is also up 74 units from the 975 rigs working this time a year ago.
With a 4-unit gain week-over-week, 1,029 rigs are drilling on land. The number of rigs drilling offshore remained unchanged at 19 units as did those units drilling in inland waters where a single unit remains for the week.
US oil-directed rigs are up 7 from last week to 854 units working, and up from the 791 rigs drilling for oil this week a year ago. Gas-directed rigs are down 3 units at 195 yet up from the 184 units drilling for gas a year ago.
Among the major oil and gas-producing states, only three saw a week-over-week increase. Alaska and California each gained 4 units to reach 11 and 10 rigs, respectively. Wyoming saw a single-unit gain increase to 34.
Eight states are unchanged this week: Louisiana, 62; North Dakota, 58; Pennsylvania, 47; Colorado, 35; Ohio, 18; West Virginia, 17; Utah, 8; and Kansas, 0.
The largest decrease comes from Texas where a 3-unit drop brought the total number of rigs to 511. Oklahoma dropped 2 units to reach 120 rigs. With a one-rig decrease, New Mexico stands at 111 rigs working for the week.
Canada’s rig count is down 3 units for the week. At 240 rigs, the count is less than the 325 units drilling this week a year ago. Two of the dropped rigs are gas-directed, bringing the count to 82 for the week. Oil-directed rigs in Canada are down a single rig to 158.
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Related stocks: Keppel Corp, Sembcorp Marine & Cosco
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