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US rig count falls by 8; Canadian rigs tick higher by 3

The combined oil and natural gas rig count in the U.S. slipped by eight to total 934 rigs during the week ended Aug. 9, according to the latest Rotary Rig count provided by Baker Hughes a GE company.

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The count is down by 123 rigs from the same week a year ago.

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Oil-directed rigs fell by six to come in at 764 rigs for the period and are down 105 rigs from the corresponding week in 2018. Gas-directed rigs were pegged at 169, shedding two for the week and are 17 rigs lower than levels reported a year prior.

North American rigs totaled 1,074, decreasing by five for the week to Aug. 9 and are 192 rigs lower than figures reported a year ago. The Canadian rig count increased three to 140 for the week but is down 69 rigs from the same period in 2018.

Land rigs in the U.S. dropped by nine to total 909 rigs for the week and are also down 126 rigs from the same period in 2018. The offshore rig count came in at 25, up by one for the week and five rigs higher than levels seen in the corresponding week in 2018.

By direction, horizontal rigs totaled 817, decreasing by two for the week and are down 107 rigs from the same week a year ago. Directional rigs also shed two to come in at 65 rigs for the week but are up by one rig from the corresponding week in 2018. Vertical rigs were pegged at 52, down by four for the week and 17 rigs lower than the prior year count of 69 rigs.

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