U.S. oil companies idled five oil-drilling rigs this week, and set up two natural gas-hunting rigs, Baker Hughes said Friday.
The nation’s total rig count dropped by three to 946, the fourth consecutive weekly decline following turbulence in oil markets over the past few months. More than 760 of those rigs target oil over gas.
The number of rigs stayed flat in the Permian Basin in West Texas at 377, while North Dakota’s Williston Basin lost two units and the Eagle Ford lost one. Alaska, Louisiana, North Dakota, Oklahoma and Utah saw their rig fleets decline last week, the data showed.