The combined oil and natural gas rig count in the U.S. fell by four to 983 rigs during the week ended May 24, according to the latest weekly North America Rotary Rig Count provided by Baker Hughes, a GE company.
The count is also 76 rigs lower from the prior-year level of 1,059 rigs.
Oil-directed rigs slipped by five to 797 rigs during the week, down by 62 from the same period in 2018. On the other hand, gas-directed rigs added one for the period to 186 rigs but are 12 rigs lower from the corresponding week a year ago.
North American rigs rose by 11 for the week to 1,061 rigs, 79 rigs lower from the year prior. Canadian rigs climbed by 15 during the week ended May 24 to a total of 78 rigs. The Canadian count is down by three from a year ago.
During the week ended May 24, U.S. land rigs slipped by four and totaled 957 rigs, 79 rigs lower from the same week in 2018. Inland water rigs remained unchanged for the week and the year prior, coming in at four rigs. Offshore rigs also saw no change and stood at 22 rigs for the week but were three rigs higher from the year-ago level of 19 rigs.
By trajectory, horizontal rigs decreased by three through the week to 863 rigs, 63 rigs lower than from the prior year count of 926. Directional rigs shed four rigs over the period to a total of 69 rigs but increased by two rigs from the corresponding period in 2018. On the flip side, vertical rigs added three rigs during the week ended May 24 to a total of 51 rigs, 15 rigs lower from the same week a year ago.