Friday, June 1, 2012

U.S. Rig Count: -3 to 1,980

The Baker Hughes rig count dropped by three this week to 1,980. Oil rigs were up three to 1,386, gas rigs were down six to 588 and miscellaneous rigs held at six.  By type, horizontal rigs were down eight to 1,183, vertical rigs were up ten to 580 and directional rigs were down five to 217.

Among gas rigs, horizontal rigs were down two to 409, directional rigs were down five to 98 and vertical rigs were up one to 81.  For the first five months of 2012, gas rigs are down 233, or 27.5%.  Of that total decline, horizontal rigs represent 129 (-24%), while directional rigs were down 29 (-22.8%) and vertical rigs were down by 65 (-44.5%).

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