With oil prices at $100 a barrel or slightly less, the nation’s rig activity saw a gain of one rig to reach 548 in the past week, according to the latest Baker Hughes Rig Count released on Friday.
Oklahoma also saw a gain, adding one rig to reach a total of 44. The count is still lower than one year ago when Oklahoma had 55 active oil and gas rigs, based on the Baker Hughes reports.
The U.S. gain came as there was an increase of oil rigs by 2 to reach 410. The total in gas rigs declined by one to 129. The nation’s miscellaneous rig total was unchanged at 9 rigs.
Oklahoma’s count of 44 rigs pales to the 240 in Texas where there was a gain of 2 rigs. New Mexico was unchanged at 95 and North Dakota stayed at 26 rigs.
The count in Louisiana slipped by 2 to 42 rigs while Colorado remained at 11. Kansas gained a rig to reach 20, according to the Red Top Rig Report issued by the Independent Oil and Gas Association in Wichita.
Alaska’s total remained at 12 rigs and California was unchanged with 7 rigs. Ohio was constant at 11 and Pennsylvania stayed at 18. Utah continued with 13 rigs and West Virginia remained at 8. Wyoming had no change with a count of 16 active rigs.