US Drillers Added a Net Two Rigs This Week

Andrew Cummings
March 4, 2017

USA drillers added just one land-based rig during the week ending Friday, according to Baker Hughes Inc.

The number of oil rigs increased this week by 7, up from 602 last week to 609 this week.

Western Canada's fleet of drilling rigs are still busy with 335 actively drilling according to data collected by Baker Hughes.

This week's USA count jumped by two, a boom of more than 350 rigs since the count fell to its recent low last spring. Rigs rose by two to 308 in the Permian and jumped up five to 64 in the Eagle Ford. The current total is the most number of rigs online since the week of October 2, 2015, when the count was 614.

A year ago, 489 rigs were active.

The number of gas rigs declined by 5 this week, and now stand at 146, sliding for the second week, after a long running fourteen-week streak of no losses.

Texas increased by six rigs, North Dakota was up three, Louisiana gained two and Utah one. Oklahoma lost three, Pennsylvania and Wyoming two each, and Alaska, Colorado and New Mexico one. United States natural gas rigs fell 91% from their peak, but they rose 86% from their lows.

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