U.S. Onshore Rig Count Drops 5; Eagle Ford Lays Down 7 Rigs

U.S. Onshore Rig Count Drops 5; Eagle Ford Lays Down 7 Rigs

5th June 2015

The Baker Hughes U.S. onshore rig count continued to decline this week, dropping 5 rigs compared to a drop of 10 rigs last week.  The rig count has now declined by 1,035 (55%) from a November 2014 high of 1,876, to 841 on 5 June 2015.  The major oil producing basins saw varying rig gains and losses, with the Eagle Ford dropping 7 rigs, the Williston basin dropping 1 rig, and the Permian basin adding 1 rig.  Intraweek crude price volatility continued for the fourth week in a row with WTI dropping to US$ 57.97 vs. US$ 59.48 last week. 

Rigs active in the Gulf of Mexico dropped 2 gas focused rigs this week bringing the total to 27 (17 oil focused and 10 gas focused).

Authors

U.S. Onshore Rig Count Drops 5; Eagle Ford Lays Down 7 Rigs

Neil Abdalla

Senior Professional, Geoscientist - neil.abdalla@gaffney-cline.com
U.S. Onshore Rig Count Drops 5; Eagle Ford Lays Down 7 Rigs

Bob George

Regional Director: Americas - bob.george@gaffney-cline.com

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