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Canadian rig count rises this week, US count down to 571 from 619 last week

February 5, 2016 | By | Reply More

US rig count down the most in Texas

US rig count

Baker Hughes reports the US rig count dropped for the fifth consecutive week.  AFP/Getty Images photo by Mira Oberman.

HOUSTON _ For the fifth consecutive week, the Baker Hughes rig count shows another drop in the US oil and gas rig count.  Texas took the biggest hit in the US with almost 20 fewer rigs searching for oil and gas.

Reports from the oilfield services company for the week ending on February 5, show there were 571 oil and gas rigs operational in the US, down from 619 last week.

None of the oil producing states showed a gain in rigs last week.  Alaska, Arkansas, California, Colorado, Kansas, New Mexico and West Virginia all stayed even while Ohio was down by one rig.  North Dakota, Utah and Wyoming all lost three rigs and Louisiana was down by five.

The biggest loss in rig counts were seen in Oklahoma which was down by eight and Texas, down by 19 to 262 rigs.

Baker Hughes reports the average US rig count for Jan. 2016 was 654, down 60 from Dec. 2015 and down 1,029 from the 1,683 reported in Jan. 2015.

The news was better in Canada where there were five more rigs searching for oil, up from 126 to 131 and six more rigs searching for gas, bringing the total to 111 from 105 last week.  Also, Canadian average rig count numbers were up in Jan. with 192, up from 160 in Dec. but down significantly to 176 from the 368 counted in Jan. 2015.

The international rig count for January 2016 was 1,045, down 50 from the 1,095 counted in December 2015, and down 213 from the 1,258 counted in January 2015. The international offshore rig count for January 2016 was 242, down 8 from the 250 counted in December 2015, and down 72 from the 314 counted in January 2015.

The worldwide rig count for January 2016 was 1,891, down 78 from the 1,969 counted in December 2015, and down 1,418 from the 3,309 counted in January 2015.

The U.S. rig count peaked at 4,530 in 1981 and bottomed at 488 in 1999.

 

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Category: Energy News

About the Author ()

Markham Hislop is the publisher of Beacon News and Beacon Energy News. He also reports and writes about Alberta and British Columbia energy issues.

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