HOUSTON– The US Gulf of Mexico rig count has dropped to 26, according to the Baker Hughes Weekly Rig Count of April 1, 2016.
That number is a decrease of two compared to the company’sweekly rig count of Mar. 28, 2016, and is down five rigs year over year.
The company also reported that the overall US rig count was down by 14 rigs from last week to 450, with oil rigs down by 10 to 362, and gas rigs down by four to 88.
The overall US rig count is down 578 rigs from last year at 1,028, with oil rigs down 440, gas rigs down 134, and miscellaneous rigs down four.
The rig declines were reported as crude oil prices had fallen back toward the mid-$30s/bbl, after recently hitting levels at or near $40/bbl. On Friday, NYMEX crude futures settled down $1.55 at $36.79/bbl.
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