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US rig count nudges higher by 1 but stays below year-ago levels

The combined oil and natural gas rig count in the U.S. ticked higher by one to come in at 935 rigs during the week to Aug. 16, according to the latest Rotary Rig count from Baker Hughes a GE company.

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However, the count is down 122 rigs from the same week a year ago.

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Oil-directed rigs came in at 770, up six rigs for the week but down 99 rigs from the corresponding period in 2018. On the other hand, gas-directed rigs slipped by four to total 165. From the same week in 2018, though, they are down 21 rigs.

North America added three rigs during the week, totaling 1,077. The count, however, decreased by 192 rigs from levels recorded a year prior. Canadian rigs totaled 142, adding two rigs during the period but down 70 rigs from the same week a year ago.

U.S. land rigs slipped by two to come in at 907 rigs, also dropping 127 rigs from the corresponding period in 2018. Offshore rigs were pegged at 27, up two rigs for the week and also up six rigs from a year ago. One inland water rig was reported for the week ended Aug. 16, down one rig from same week in 2018.

By direction, horizontal rigs totaled 815, down by two for the week and 107 rigs lower than levels seen a year ago. Vertical rigs were pegged at 52, unchanged during the review period but down 13 rigs from the same week in 2018. Directional rigs came in at 68, adding three for the period and down two rigs from the year prior.

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