30 December 2014, News Wires – The number of rigs drilling for oil and gas in the US plummeted by 35 during the week of Christmas for a total of 1840, according to data from Houston-based services player Baker Hughes.
The losses hit oil rigs the hardest, with 37 fewer unit drilling for the week.
That left 1499 rigs operating in the US, as the dual effects of low oil prices and limited holiday activity pushed down rig numbers.
Gas-directed rigs actually gained, adding two rigs for a total of 340.
California bore the brunt of the losses, shedding 17 rigs for a total of 28. The western US state will end the year with seven fewer rigs than year-end 2013.
Rig leader Texas was not far behind in its losses, shedding 16 units. The southern state still has 852 rigs operating, and that is 17 more than a year ago.
The only significant gainer for the week was Oklahoma, which added four rigs for a total of 209.
The losses did not affect any single basin in particular, though most tallied losses for the week.
The Marcellus shale lost the most at four, bringing its total to 78 rigs.
The Permian basin and the Granite Wash each lost three rigs for respective totals of 536 and 52. The Permian, which is expected to largely withstand the drop in oil prices, is up 67 rigs for the year.
The Williston basin lost a pair of rigs for a total of 179, as did the Barnett shale, for a total of 24.
The Cana Woodford, the Utica shale and the DJ-Niobrara play all gained rigs, adding three for 48, two for 50 and one for 60, respectively.