The US rig count fell 8 units during the week ended Jan. 4 to reach 1,075 units working, according to Baker Hughes data (OGJ Online, Dec. 28, 2018). This count was up 151 units from the 924 units working in the US this week a year ago.
US rigs drilling on land fell 6 units to 1,050 vs. last week. Offshore rigs dropped 2 units to 22, and there also were 22 rigs drilling in the Gulf of Mexico, also down 2 units.
US rigs targeting oil reached 877 this week, 8 fewer than a week ago. Gas-focused rigs remained unchanged at 198 units.
In Canada, there were 76 rigs working, 6 more than a week ago. This count is down 98 units from the 174 rigs working this week a year ago.
The number of oil-directed rigs in Canada rose 5 units, bringing the count to 20 rigs for the week. Gas-targeted rigs in Canada were up 1 unit to 56.
Among the major oil and gas-producing states, California, at 10 rigs, was down 5 units this week. Louisiana, down 2 rigs, reached 65 units working. New Mexico and Wyoming, with respective counts of 105 and 33 this week, were down 1 unit each.
Colorado gained 1 rig to reach 35 units working. Texas, at 534 units, and Alaska, at 9 units, each gained 2 rigs this week.
All other states were unchanged this week. These counts were Oklahoma, 140; North Dakota, 53; Pennsylvania, 47; Ohio, 15; West Virginia, 12; Utah, 6; and Kansas, 2.
In the Permian basin, a total of 487 rigs were drilling, up 1 unit from a week ago and 87 more than this week a year ago. The Eagle Ford had 80 rigs drilling this week, unchanged from last week but up 10 from this week a year ago.
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Related stocks: Keppel Corp, Sembcorp Marine & Cosco.
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