Baker Hughes weekly rig report Thursday 4/24/2020
All US Rigs 465 (-64)
US Horizontal Rigs 426 (-57)
US Hz Gas Rigs 78 (-4)
US Hz Oil Rigs 348 (-53)
Flashback to October 2016, the last time horizontal rigs fell below 350 for oil permits and 80 for natural gas permits. That was during the recovery of the last large drop in rigs in 2016. Today, the Baker Hughes rig report highlights current rig activity to continue to fall and has hit these levels again. Oil targeted horizontal rigs lost 53 and gas rigs lost 4.
The county with the biggest change this week was Lea Co., NM dropping 8 horizontal rigs for a total of 29 active rigs.
Weekly map and charts are now interactive. To use the visualizations visit https://www.mudrockenergy.com/rig-update