The U.S. rig count adds five this week, three of which are targeting natural gas

The number of rigs in the United States grew in the week ended September 16, 2016, according to information from Baker Hughes Industries (ticker: BHI). The total rig count now stands at 511, down 327 from the same time last year.

The gains came primarily from rigs targeting natural gas this week, a change of pace as most producers seek oil. The number of rigs rose by three, reaching 92 in total last week. The natural gas rig count remains at less than half of its total from this time last year when it was 197.

Rigs targeting oil rose by two last week to 418, down 223 from this time last year.

The Permian remains the most active basin in the country with 201 rigs, although the basin did report one less rig last week than in the week ended September 9, 2016. The next most active basin is the Eagle Ford with just 37 active rigs.

The Cana Woodford, Marcellus, Mississippian and Williston each reported one additional rig last week from the week before.


Legal Notice