US rig count decline slows after weeks of steep losses
Permian basin shed one rig, region is down 310 rigs compared to last year
US drillers dropped only one rig last week, as the rig count begins to show signs of slowing weeks of steep declines.
The onshore rig count fell by one to 265, an all-time low, as natural gas rigs remained unchanged and oil rigs shed one unit for 188 in total, according to a weekly tally from energy services company Baker Hughes. The overall count is down by 702 year-over-year.
Rigs in the prolific Permian basin and the Denver Julesburg basin both declined by one to total 131 and 4, respectively. The count in the Permian is down by 310 compared to last year, as the basin has seen some of the largest declines. The DJ basin is down by 22 over the same period.
However, one rig was added in the state of Texas, along with one other rig added in Oklahoma. The states are down by 352 and 92 compared to last year, and now total 112 and 10, respectively.
Meanwhile, the state of Wyoming has drawn down to zero rigs, shedding its last rig this week. The state houses the Powder River basin and is down by 32 rigs year-over-year.
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