Total U.S. land rig count fell 13 to 450 rigs and horizontal land rig count fell 14 to 375 rigs.
Tight oil plays lost 10 net rigs, 6 in the Permian, 2 in the Eagle Ford, 1 in the Bakken and 2 in the Granite Wash with the Mississippi Lime gaining 1 rig.
Shale gas plays gained 1 net rig adding 2 in the Marcellus and losing 1 in the Utica.
(Click to enlarge) Related: $67 Oil Has All The Majors Converging Here
The total U.S. rig count has plunged to a 41 year low.
(Click to enlarge)
Source: Bloomberg Related: Choking And Lifting Preventing The Decline In U.S. Shale?
The loss of 14 horizontal rigs was greater than last week's drop of 8 but less than rig count losses over the last 6 weeks.
(Click to enlarge)
Source: Bloomberg
ADVERTISEMENT
U.S. total output continues to decline, but slower than many may have thought.
By Art Berman for Oilprice.com
More Top Reads From Oilprice.com:
- How Lenders Control The Future Of Oilfield Services
- Turkish Energy Security Under Threat
- Oil Prices Steady After Rising 40% in Recent Weeks
