Rig Count

Rig Count Update November 3, 2017


Oklahoma drops 8; U.S. oil rig count falls by most in week since May 2016 U.S. energy companies cut eight oil rigs this week, the biggest reduction since May 2016, extending a drilling decline that started over the summer when prices slipped below $50 a barrel.

Oil Rig Count: The US crude oil rig count fell by 8 falling to 729 for the week. There are 279 more rigs targeting oil than last year. Rigs drilling for oil represent 81.1 percent of all drilling activity.

Natural Gas Rig Count: The natural gas rig count – which plunged to its lowest last August – fell 3 to 169. The number of rigs drilling for gas is 52 higher than last year’s level of 117.

Among major oil- and gas-producing states, Colorado and Texas each gained four rigs last week, while Alaska added two new rigs. Oklahoma lost eight rigs, Louisiana lost four rigs, and New Mexico and North Dakota each had two fewer rigs. Utah also lost a rig in the week.

The most active counties in Oklahoma with double-digit rigs running are Grady (23), Canadian (17), Blaine (15), Kingfisher (15), and Dewey (10).

The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May of 2016 at 404.

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.


The crossroads of energy information for minerals owners in Oklahoma. Where you can: See recent prices of mineral and lease transactions. Receive an offer to lease or buy your minerals.

Find relevant news stories on the most active areas, including the Scoop and Stack Plays.

Data Powered by Oseberg

Today’s E&P world is rapidly shifting towards data-driven decision making, but those decisions are only as good as the data behind them. Access Oseberg's deep, accurate, and detailed pool of insight-rich industry data with our powerful analytical and search tools and get the clearest picture of what's happening as soon as it happens.


This web site is maintained solely for the personal use of our visitors. Although we at Oklahoma Minerals have made all reasonable efforts to provide accurate information, we cannot guarantee the completeness, timeliness or accuracy of the information contained herein. Nothing in this web site contains investment advice. Any decisions based upon the information contained in this web site are the sole responsibility of the user.

Copyright © 2022 OklahomaMinerals.com

To Top
Have a question about your mineral rights? Contact us today! ➡️Free Consultation