US Oil and Natural Gas Rig Count Drops by 10 to 875. A year ago, with oil prices at a high level, 1,866 rigs were active. Texas lost four rigs, California declined by three and Arkansas, Louisiana and Pennsylvania each dropped two. North Dakota was down one. Colorado and Oklahoma gained two rigs apiece. Alaska and New Mexico were up one each. Kansas, Ohio, Utah, West Virginia and Wyoming were all unchanged. Oil price is around $60. It needs to go up to $70 before we will see rigs picking back up.
3 replies (most recent on top)
Yee Ha Cowboy
Indeed, it's a big turn point if the total US rig count starts to go up.
Oil rig count Canada did go up. Soon US rig count will start increasing too