The US drilling rig count fell 27 units—all on land—to 905 rigs working during the week ended May 1, according to data from Baker Hughes Inc. The count has now plunged 1,015 units over 21 weeks since the week ended Dec. 5 ( OGJ Online, Dec. 5, 2014 ). The total of 905 is the lowest since June 19, 2009, and 949 fewer units compared with this week a year ago. The rig count’s nadir during the 2008-09 downturn was 876 units on June 12, 2009. During the week, oil rigs fell 24 units to 679, down 848 year-over-year and 930 since a recent peak of 1,609 on Oct. 10. Gas rigs fell 3 units to 222. Rigs considered unclassified were unchanged at 4. Land rigs now total 868, down 918 year-over-year. Rigs engaged in horizontal drilling dropped another 21 units to 699. […]

Posted in: USA