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.
29 May 2015 - U.S. Onshore Rig Count Drops 10, Unconventional Gas Takes a Hit
22 May 2015 - U.S. Onshore Rig Count Increases For First Time Since November
15 May 2015 - U.S. Onshore Drops 6 Rigs; WTI Stable Week-on-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).
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