The US drilling rig count dropped 4 units to reach 1,047 rigs working for the week ended Feb. 22. The count is up 69 units from the 978 rigs working this time a year ago, according to Baker Hughes data.
Two fewer rigs were drilling on land week-over-week, bringing that number to 1,026. 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 4 units from last week to 853 units working but remained up from the 799 rigs drilling for oil this week a year ago. Gas-directed rigs remained unchanged at 194, and up from the 179 units drilling for gas a year ago.
Among the major oil and gas-producing states, three saw a single-unit increase week over week: West Virginia, 19; Alaska, 13; and California, 12.
Oklahoma and Louisiana saw rig counts fall 2 units each to 117 and 64, respectively. Dropping a single unit for the week were Texas, 508; New Mexico, 108; and Colorado, 34.
Five states remained unchanged: North Dakota, 57; Pennsylvania, 44; Wyoming, 37; Ohio, 18; and Utah, 8.
Canada dropped 12 rigs for the week. With 212 rigs running, the count is less than the 306 units drilling this week a year ago.
The number of oil-directed rigs in Canada fell by 8 units, bringing the count to 144 rigs for the week. Four fewer gas-directed rigs were drilling, for a total of 68 units for the week.
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Related stocks: Keppel Corp, Sembcorp Marine & Cosco.
