The number of active drilling rigs dipped slightly this week as a large decline in oil rigs was mostly offset by an increase in rigs seeking natural gas.
Oil rigs in operation fell by seven, but natural gas drillers added five rigs, bringing the net decline to two, according to the Houston oilfield services company Baker Hughes.
Texas led the decline with a loss of three rigs, while Pennsylvania added two. West Texas’ booming Permian Basin lost one rig.
The Permian alone now accounts for 443 oil rigs – 56 percent of the oil rig count nationwide. Likewise, Texas is home to 496 total rigs – half of the nation’s total of 993 rigs.
The overall rig count, including oil and gas rigs, has sat below 1,000 since April 2015 when oil prices were collapsing.
U.S. oil prices were hovering above $64 a barrel early Thursday afternoon.
After the Permian, the next most active area is South Texas’ Eagle Ford shale with 72 rigs. Oklahoma’s Cana Woodford is next with 63 rigs.
Oklahoma also is home to the second-most rigs with 121 active. New Mexico is next with 87 rigs.
The total U.S. rig count is well up from an all-time low of 404 rigs in May 2016.
Despite this week’s jump, the oil rig count is down 50 percent from its peak of 1,609 in October 2014, before oil prices began plummeting.
This article first appeared on the Houston Chronicle – an Energy Voice content partner. For more from the Houston Chronicle click here.