After over a month of retrenchment, the U.S. rig count bounced back for the week ended Friday on growth in oil-focused activity in the Permian and Midcontinent, as reported by Baker Hughes Inc.
Oil Rig Count: The US crude oil rig count jumped up 9 increasing to 738 for the week. There are 286 more rigs targeting oil than last year. Rigs drilling for oil represent 81.3 percent of all drilling activity.
Natural Gas Rig Count: The natural gas rig count – which plunged to its lowest last August – remained flat at 169. The number of rigs drilling for gas is 54 higher than last year’s level of 115.
Among major oil- and gas-producing states, Oklahoma gained six rigs, New Mexico increased by four and Alaska and Utah each gained one.
Texas lost two rigs and West Virginia decreased by one.
The most active counties in Oklahoma with double-digit rigs running are Grady (26), Canadian (19), Blaine (16), Kingfisher (15), and Dewey (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.