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Total US rig count holds at 1,048 as oil rigs drop, gas rigs climb

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Total US rig count holds at 1,048 as oil rigs drop, gas rigs climb

The combined oil and natural gas rig count in the United States held at 1,048 rigs in the week to Sept. 7, as gas rig gains countered oil rig declines, according to Baker Hughes' latest North American Rotary Rig Count.

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The total count sits 104 rigs above the corresponding week a year earlier.

Oil-directed rigs fell two on the week to 860, which is up 104 from the same week in 2017, while gas-directed rigs were up two on the week and down one year on year at 186. Miscellaneous rigs were unchanged at two, which is up one from the corresponding week a year ago.

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The North American rig count was down 24 on the week and is up 106 on the year to a total of 1,252, as Canadian rigs tumbled by 24 on the week and were up two on the year to a total of 204.

During the week ended Sept. 7, U.S. land rigs were down two at a total of 1,026, which is up 103 from the corresponding year-ago period. Inland water rigs were up one on the week and down two on the year at a total of three. Offshore rigs were up one on the week and up three on the year at a total of 19.

By trajectory, vertical rigs were down one on the week and down ten on the year to a total of 65, and horizontal rigs were up one on the week at 918, which is up 125 on the year. Directional rigs were unchanged on the week and down 11 on the year at 65.

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