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US rig count continues to slide as oil, gas activity wanes

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US rig count continues to slide as oil, gas activity wanes

The combined oil and natural gas rig count in the U.S. fell by 12 to 886 rigs during the week ended Sept. 13, according to the latest Rotary Rig Count released by Baker Hughes, a GE company.

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The count is also down 169 rigs from the same week a year ago.

Oil-directed rigs stood at 733, down five for the week and 134 rigs lower than levels seen in the corresponding week in 2018. Gas-directed rigs tumbled by seven to 153 rigs during the review period and are down 33 rigs from a year ago.

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North American rigs came in at 1,020, decreasing by 25 for the week and dropping 261 rigs from the same week in 2018. Canadian rigs slipped by 13 for the period to 134 rigs and are down 92 rigs from a year prior.

U.S. land rigs were pegged at 860, shedding 10 for the week and are 170 rigs lower than levels reported a year ago. Inland water rigs stood at zero for the week and are down five rigs from the same period in 2018. Offshore rigs tumbled by two to 26 rigs during the week ended Sept. 13, but are up six rigs from a year ago.

By direction, horizontal rigs shed seven for the week and stood at 776. The figure is also down 145 rigs from the corresponding week in 2018. Directional rigs came in at 57, decreasing by 10 for the review week and down 14 rigs from the same week a year ago. Conversely, vertical rigs added five to arrive at 53 rigs for the week but are down 10 rigs from a year prior.

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