U.S. Rig Count Soars by 16 to Over 900by Will Brackett
The U.S. drilling rig count rose by 16 during the week to 901, oilfield services firm Baker Hughes said on May 19. It was the 18th consecutive gain for the closely-watched weekly rig count.
Over the past year, the rig count has risen by 497 rigs, or a gain of 123 percent.
The gains were evenly split at 8 apiece for rigs exploring for oil and those exploring for natural gas.
Among U.S. states, once again Texas was the leader, with an increase of 8 rigs. Oklahoma was second with a gain of 4 rigs, with Louisiana, Pennsylvania, and Wyoming all rising by 2. Texas has gained 286 over the past year, or 57.5 percent of the total gain for the entire U.S.
The Permian was again the leader among major basins, with a gain of 4, followed by the Mississippian with an increase of 3 rigs, and the Eagle Ford, which added 2. The Permian accounts for 45 percent of the rigs added in the U.S. over the past year.