Friday, June 8, 2012

U.S. Rig Count: +4 to 1,984 (but BIG Drop in Gas Rigs)

The Baker Hughes U.S. rig count showed a four rig net increase to 1,984.  But that small net increase hides large changes below the surface.  For the week, oil rigs were up 28 to 1,414, gas rigs were down 23 to 565 and miscellaneous rigs were down one to five.  By type, horizontal rigs were down six to 1,177, vertical rigs were down eight to 572 and directional rigs were up 18 to 235.

Among the gas rigs, horizontal rigs were down 18 to 391, direction rigs were up four to 102 and vertical rigs were down nine to 72.  

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