Friday, February 25, 2011

U.S. Rig Count: -14 to 1,699

The weekly Baker Hughes rig count showed a 14 rig decrease, bringing the total number of working rigs in the U.S. to 1,699.   This is the third consecutive weekly decrease and the current level is 40 rigs lower than the recent high water mark.  Oil rigs were down 15 to 783, gas rigs were up one to 906 and miscellaneous rigs were unchanged at 10.  By type, vertical rigs were down eight, horizontal rigs were down three and directional rigs were also down three.

In the Haynesville Shale region, inclusive of other formations, the rig count was unchanged for the thirds straight week in both north Louisiana (115) and east Texas (56).

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