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Rig Count: US Drops 48 Rigs in One Week

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   |    Friday,February 05,2016

According to Baker Hughes' February 5, 2016 rig count report, U.S. rig counts have dropped by -48 overall, while Canada posted a gain, adding +11. In January 2016, the International market lost -50.

Overall, -29 horizontal and -14 vertical rigs were taken down this week. The Permian lost -2 rigs this week.

For the U.S., the total year-over-year (YOY) rig count drop is now at -885. The current active rig count in the U.S. is 571.

Canada's rig count jumped by +11. The country's rig count has fallen by -139 rigs YOY with 242 rigs currently active.

- Niobrara 2, 21 total

- Barnett 1, 4 total

- Eagle Ford -4, 60 total

- Marcellus -3, 31 total

- Bakken -2, 42 total

- Utica -1, 13 total

- Permian -2, 180 total

- Woodford -2, 37 total

- Miss Lime -1, 10 total

On the International front, rig counts dropped by -50 in January of this 2016, with 1,045 rigs currently active.

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