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U.S. oil rig count rises to 766

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Staff Writer | July 28, 2017
oil rig count rises
Oil exploration   The number of oil rigs increased slightly

The total Baker Hughes North American rig count for the week ending July 28th rose to 958 from 950 the previous week.

The number of oil rigs increased slightly to 766 from 764 previously following the slight decline seen last week.

There was a significant increase in the gas rig count to 192 from 186 previously.

The number of rigs rose in the Permian Basin rose to 379 from 374, bucking the trend of little overall change seen over the past few weeks.

There was an increase of 4 in the Cana Woodford basin, but there was a third successive decline in the Eagle Ford Basin which continues to suggest that lower prices are increasing strains on the higher cost fields.

There were no major changes in other fields and a significant proportion of net gains were in gas rigs.

There was a decline of 1 in the number of rigs in Texas, the second successive decline, while there were gains in New Mexico and Oklahoma.


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