Oklahoma stays flat; U.S. Rigs Climb by 6
The number of active drilling rigs jumped up for the fourth straight week. The increase to the number of oil and gas rigs in the US is an indication of what’s to come if oil prices continue to climb as a result of OPEC’s November 30th extension that is designed to ease the glut and stabilize pricing.
Oil Rig Count: The US crude oil rig count gained 2 at 749 for the week. There are 272 more rigs targeting oil than last year. Rigs drilling for oil represent 80.6 percent of all drilling activity.
Natural Gas Rig Count: The natural gas rig count – which plunged to its lowest last August – climbed by 4 to 180. The number of rigs drilling for gas is 61 higher than last year’s level of 119.
Among major oil– and gas-producing states, Texas gained four rigs to reach 454 total. Kansas, New Mexico, North Dakota, and Utah each added one.
Louisiana and Colorado each lost one rig.
Alaska, Arkansas, California, Ohio, Oklahoma, Pennsylvania, West Virginia and Wyoming were unchanged..
The most active counties in Oklahoma with double-digit rigs running are Grady (30), Canadian (16), Kingfisher (16) and Blaine (14).
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.