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Rig Count Still Dropping as Fourth Quarter Nears

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Rig Count Still Dropping as Fourth Quarter Nears

According to Baker Hughes' October 16, 2015 rig count report, rigs counts continued to decline in the U.S., while Canada gained one rig.

The Eagle Ford dropped by a further 4 rigs this week, while the Permian slowed from last week's decline of 10 rigs to lose 2 this week.  The Woodford and Bakken have lost 1 rig each while other plays remain stable.

The U.S. rig count dropped by eight (8) this week, which brings the total year-over-year (YOY) rig count drop to 1,131.

The current active rig count in the U.S. is 787.

- Niobrara 0, 27 total

- Barnett 0, 6 total

- Eagle Ford -4, 76 total

- Marcellus 0, 46 total

- Bakken -1, 64 total

- Utica 0, 20 total

- Permian -2, 233 total

- Woodford -1, 36 total

- Miss Lime 0, 13 total

Canada's rig count increased by one. The country's rig count has…

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