The Baker Hughes rig count report shows 969 active drilling rigs in the US as of June 14th. Oil rigs account for 788 active rigs and the gas rig count is 181. One year ago the total active land rig count was 1035. Oil rigs are down 75 and gas rigs are down 13 compared to the counts in 2018.
*Data from June 17, 2019, Baker Hughes Report.
|Bakken Region Total: 56
North Dakota: 56
|Rocky Mountain Total: 167
New Mexico: 101
|Central Plains Total: 101
|Gulf States Total: 73
Louisiana North: 37
Louisiana South (land & offshore): 29
|Texas Total: 465
District 1: 36
District 2: 32
District 3: 8
District 4: 13
District 5: 6
District 6: 23
District 7B: 3
District 7C: 29
District 8: 297
District 8A: 14
District 9: 1
District 10: 3
|Marcellus Total: 76
West Virginia: 19
Looking at the major plays, the Permian Basin rig count is at 441. This count is down 16 rigs from one month ago, and down 35 rigs from one year ago.
The Texas Railroad Commission reports the number of oil well completions in the Permian for May was 455, with 354 being new oil well completions. The number of original drilling permits issued for the Permian in May was 546; 492 of these are new drilling permits.
In east Texas, the Eagle Ford shale is at 73 active rigs, down 10 from one month ago.
The Haynesville shale rig count is at 53 rigs, compared to 59 rigs one month ago.
The Anadarko rig count is at 101, down 13 active rigs from May.
In the Rockies, the active rig count in the Niobrara Shale is at 62 rigs, a decrease of 4 rigs in the last month.
The Bakken Shale rig count is 56 rigs, which is no change from one month ago.
The Appalachian has 76 active rigs, which is 4 less than the May count.
The Energy Information Administration released the monthly Drilling Productivity Report on June 17th. In May, the Appalachia, Bakken, Eagle Ford, and Permian regions all broke records for total production.
In the oil markets, WTI closed at $51.93 on June 17th. Since closing at $63.12 on May 20th, prices have dropped steadily, reaching a low of $51.57 on June 5th. Analysts point to a potential US-China trade war and disappointing economic data as the reasons for falling prices.
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