Rig Report

Rig count continues to rise with the Bakken still adding new rigs.

Review February 1, 2010 :: ASPO-USA: Association for the Study of Peak Oil and Gas.

Crude oil rigs operating in the U.S. increased by seven this week to 444, the highest level in 16 years, as drilling rose in Texas and the Dakotas. The count has more than doubled since June, when it bottomed out at 179. North Dakota [the Bakken], which ranks fourth in rigs behind Texas, Louisiana and Oklahoma, added three this week to 75. Its rigs have more than doubled from 33 last May. The total rig count for gas and oil rose by 35, or 2.7 percent, to 1,317, an 11-month high. (1/30, #18)