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US total rig count down 2 in week to Dec. 29

The combined oil and natural gas rig count in the United States decreased two during the week ended Dec. 29 to a total of 929, according to Baker Hughes Inc.'s latest North America Rotary Rig Count.

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The total count sits 271 rigs above the corresponding week a year earlier.

Oil-directed rigs were unchanged on the week holding at a total of 747, which was up 222 from the same week in 2016. Natural gas-directed rigs decreased two on the week at 182 and were up 50 rigs on the year.

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The North American rig count tumbled 76 on the week and is up 250 on the year to a total of 1,065, as Canadian rigs fell by 74 on the week and were down 21 on the year to a total of 136.

During the week ended Dec. 29, U.S. land rigs were down one at a total of 909, which was up 275 from the corresponding year-ago period. Inland water rigs held flat on the week but were up one on the year at a total of two. Offshore rigs were down one on the week and off five on the year at a total of 18.

By trajectory, vertical rigs were up one on the week and were down five on the year to 65. Directional rigs were up two on the week at 68, which was up 12 on the year. Horizontal rigs were down five on the week at 796, or 264 rigs better than the same week in 2016.

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