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Total US rig count tumbles as 2019 begins

The combined oil and natural gas rig count in the United States was down eight to 1,075 rigs in the week to Jan. 4, according to the latest North American Rotary Rig Count from Baker Hughes a GE company.

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The total count sits 151 rigs above the corresponding week a year earlier.

Oil-directed rigs accounted for the total loss on the week, sinking eight to a total of 877, which is up 135 from the same week in 2018, while gas-directed rigs were steady on the week and up 16 on the year at 198.

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The North American rig count was down two in the week and was up 53 on the year to a total of 1,151 rigs, as Canadian rigs were up six in the week and were down 98 on the year to a total of 76 rigs.

During the week ended Jan. 4, U.S. land rigs were down six to 1,050, which is 144 above the year-ago level. Inland-water rigs were steady on the week at three rigs, up two from the year-ago period. Offshore rigs were down two on the week and were up five on the year at a total of 22 rigs.

By trajectory, directional rigs and vertical rigs were each down by four rigs in the week. Directional rigs at 66 were two more than the prior-year period, while vertical rigs at 64 were also two more than the same week in 2018. Horizontal rigs were unchanged at 945 rigs, which is 147 above the same week a year earlier.

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