Seems like old times: oil rigs up, gas rigs down! Oil rigs were up 12 this week to 640, while gas rigs were down nine to 219 and miscellaneous rigs were unchanged at three. This week finally breaks the streak of 29 straight weeks of declining oil rigs, a period when the rig count fell from 1,575 to 628, a decrease of 947 rigs, or 60%.
By type, horizontal rigs were up three to 657, vertical rigs were up one to 108 and directional rigs were down one to 97. Among gas rigs, horizontal rigs were down four to 160, directional rigs were down three to 45 and vertical rigs were down two to 14.