Number of active US drilling rigs decreases this week

Business Sunday 19/April/2020 16:44 PM
By: Times News Service
Number of active US drilling rigs decreases this week

Houston: The number of active drilling rigs in the United States decreased by 73 to 529 this week, down by 483 year-on-year, according to the weekly data released by Houston-based oilfield services company Baker Hughes.
These active drilling rigs included 438 oil rigs operating in the US oil fields, down by 66 from the previous week; 89 gas drilling rigs, down by seven; and two miscellaneous rigs, unchanged from last week.
The 529 rigs included 512 land drilling rigs, down by 72 from the previous week; and 17 offshore drilling rigs, down by one from the previous week. There were no inland waters drilling rig this week, same as last week.
Of them, 28 are directional drilling rigs, 483 are horizontal drilling rigs, and 18 are vertical drilling rigs.
During the week, the number of drilling rigs decreased the most by 40 in the state of Texas to 262. New Mexico and North Dakota lost nine and seven rigs, respectively.
By far, the Permian Basin in western Texas and eastern New Mexico has been the largest source of shale oil production growth in the United States, having become an engine of supply growth outside the Organization of the Petroleum Exporting Countries in the past years.