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Total US rig count slips for 2nd straight week

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Total US rig count slips for 2nd straight week

The combined U.S. oil and natural gas rig count decreased for the second straight week during the week ended Aug. 11, according to Baker Hughes Inc.'s latest North America Rotary Rig Count released Aug. 11. The total U.S. rig count was down five to 949, but still 468 rigs above the prior-year level.

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Oil-directed rigs increased three on the week and are up 372 on the year at a total of 768. However, natural gas-directed rigs fell eight on the week to a total of 181, still 98 rigs above the year prior.

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The North American rig count slipped by two rigs on the week to a total of 1,169, which is 562 above the total reported during the same week in 2016. Canadian rigs increased three to a total of 220, which is up 94 from the same week in 2016.

U.S. land rigs dropped six on the week to a total of 928 but were still up 467 from the corresponding year-ago period. Inland water rigs were steady on the week and the year at a total of three. Offshore rigs ticked one rig higher to a total of 18 and were also one rig higher than the same week in 2016.

By trajectory, vertical rigs eased by one to a total of 72 and are up 10 from the year prior. Directional rigs were up two to a total of 76, which is up 32 from the same week in 2016. Horizontal rigs fell six on the week at 801, which is up 426 from the same week in 2016.

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