Data released today shows the total U.S. rig count down 12 rigs from last week to 502. While oil rigs dropped by 13 to 400, there was one gas rig gained to bring that number to 102, according to the weekly report provided by Baker Hughes.
Oil rigs are now at their lowest mark since December 2009.
It is the 10th straight week that the total count dropped. U.S. rig count is now down 765 rigs from last year at 1,267, with oil rigs down 586, gas rigs down 178, and miscellaneous rigs down 1.
The U.S. offshore rig count is 27, up 2 rigs from last week, and down 24 rigs year over year.
In Canada, rig count dripped 31 rigs from last week to 175, with oil rigs down 26 to 83, and gas rigs down 5 to 92.
Canadian rig count is down 155 rigs from last year at 330, with oil rigs down 88, and gas rigs down 67.
Below is the weekly rig count summary provided by Baker Hughes.