The US drilling rig count dropped 7 units to 737 during the week ended Dec. 4, marking its lowest point since Oct. 15, 1999, according to Baker Hughes Inc. data (OGJ Online, Nov. 25, 2015).  The count has fallen in 14 of the last 15 weeks since a short-lived summer rebound, giving up 148 units over that time. Since this week a year ago, 1,183 units have gone offline.  After dropping 10 and 9 units, respectively, in each of the last 2 weeks, oil-directed rigs lost 10 units again to settle at 545. The last time they hit that total was June 4, 2010. They’re now down 1,030 year-over-year.  Gas-directed rigs posted a 3-unit increase to 192.  Land-based units fell for a 15th consecutive week, losing 3 units to 710, down 1,138 year-over-year. Rigs engaged inhorizontal drilling were unchanged at 569, down 799 year-over-year. Directional drilling rigs declined 2 units to 64.  A bulk of the country’s declines came offshore, where 5 rigs went offline to settle at 25, its lowest total since Mar. 18, 2011. Six rigs went offline offshore Louisiana, while one went online offshore Texas.  Rigs drillings in inland waters, meanwhile, doubled to 2.  After an 18-unit jump last week, Canada’s rig count fell 7 units this week as well to settle at 177, down 245 year-over-year. Oil-directed rigs declined 4 units to 77 and gas-directed units declined 3 units to 100.

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Posted in: USA