Number of U.S. active drilling rigs increases greatly this week

HOUSTON, Nov. 9 (Xinhua) — The number of active drilling rigs in the United States increased by 14 to 1,081 this week, or 174 more than that this time last year, showed weekly data released by Baker Hughes on Friday.

The number of land drilling rigs and offshore drilling rigs increased by 11 and three, respectively, while the number of inland waters rigs remained the same.

The number of directional drilling rigs increased by one to 74 rigs. The number of horizontal drilling rigs and vertical drilling rigs grew by six to 935 and by seven to 72, respectively.

The Houston-based oilfield services company reported that the U.S. state of New Mexico and Oklahoma led the gain with increasing by four to 106 rigs and 148 rigs, respectively. Texas decreased by one to 532 rigs.

The number of rigs operating in U.S. oil fields increased by 12 to 886 rigs this week, and more than half of the oil rigs were located in the Permian Basin region of western Texas and southeastern New Mexico. The number of rigs drilling for gas grew by two to 195 rigs this week.

Oil prices extended further losses on Friday as U.S. crude has entered a “bear market territory” due to lingering concerns over excessive supply and shrinking demand.

The West Texas Intermediate for December delivery dropped 0.48 U.S. dollar to settle at 60.19 dollars a barrel on the New York Mercantile Exchange, while Brent crude for December delivery was down 0.47 dollar to close at 70.18 dollars a barrel on the London ICE Futures Exchange.

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