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US rig count slips after 10 straight weeks of gains

The combined oil and natural gas rig count in the United States was down three in the week to June 15 to a total of 1,059, marking the first weekly decline in ten weeks, according to the latest Baker Hughes North American Rotary Rig Count.

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The total count sits 126 rigs above the corresponding week a year earlier.

Oil rigs were up one on the week to a total of 863, which was up 116 from the same week in 2017. Natural gas rigs were down four on the week to 194 and were up eight rigs on the year.

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The North American rig count was up 24 on the week and is up 106 on the year to a total of 1,198, as Canadian rigs were up 27 on the week and were down 20 on the year to a total of 139.

During the week ended June 15, U.S. land rigs were down four at a total of 1,035, which was up 127 from the corresponding year-ago period. Inland water rigs were up one on the week and up one on the year at a total of four. Offshore rigs were unchanged on the week and down two on the year at a total of 20.

By trajectory, vertical rigs were down one on the week and down 22 on the year to a total of 60, and horizontal rigs were down two on the week and up 150 on the year to a total of 932. Directional rigs were unchanged on the week at 67, which was down two on the year.

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