US Rig County drops by 4, OKLA gains 1.
Weekly Summary: Rigs engaged in the exploration and production in the U.S. totaled 909 for the week ended October 27, down 4 from last week. Land rigs declined by 4 while the offshore rig count was flat. Rigs drilling in the inland waters also remained flat for the week.
Oil Rig Count: The US crude oil rig count picked up 1 increasing to 737 from October 20, – October 27, 2017. There are 296 more rigs targeting oil than last year. Rigs drilling for oil represent 81 percent of all drilling activity.
Natural Gas Rig Count: The natural gas rig count – which plunged to its lowest last August – fell 5 to 172. The number of rigs drilling for gas is 58 higher than last year’s level of 114.
Among major oil- and gas-producing states, Texas gained five rigs and Oklahoma and Wyoming each increased by one.
Louisiana lost three rigs, North Dakota and West Virginia each declined by two and Alaska, Colorado, Kansas, New Mexico and Pennsylvania each lost one. The rest were unchanged.
The most active counties in Oklahoma with double-digit rigs running are Blaine (22), Grady (20), Kingfisher (16), Canadian (11), Dewey (10) & Garvin (10).
Compiled and Published by GIB KNIGHT
Gib Knight is a private oil and gas investor and consultant, providing clients advanced analytics and building innovative visual business intelligence solutions to visualize the results, across a broad spectrum of regulatory filings and production data in Oklahoma and Texas. He is the founder of OklahomaMinerals.com, an online resource designed for mineral owners in Oklahoma.