Baker Hughes rig count for the week ended May 22, 2015
Rig counts fell for the 24th consecutive week this week, but showed the smallest decline since the drop in rig counts began in October of last year. The total number of active rigs in the U.S. for the week ended May 22, 2015, was 885, down just 3 rigs from last week’s count of 888, according to Baker Hughes (ticker: BHI). The total rig count has declined by 45% since its peak in October of last year when there were 1,609 rigs drilling in the U.S.
The number of rigs drilling for oil totaled 659, just one less than last week. The number of rigs drilling for gas also declined by just one rig this week, falling to 222 from last week’s count of 223. The third rig counted in this week’s decline was listed under a “miscellaneous” category in the BHI rig count.
Pennsylvania and New Mexico each added 3 rigs to their counts, while Arkansas and Oklahoma added one each. Louisiana lost four rigs in the last week, West Virginian saw three fewer in its fleet, and Kansas, North Dakota and Ohio each lost one.
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