Louisiana rig count drops by one as U.S. recovers last week’s loss

    Louisiana is down one oil and gas drilling rig from last week, according to the Baker Hughes rig count, as the state’s number of rigs dipped from 55 to 54.

    The loss happened at an offshore site in south Louisiana, according to the report, where the number of rigs fell from 20 to 19. Overall, the state has maintained an average of 56 rigs throughout the month of January so far.

    Throughout the U.S., however, the number of operating oil and gas drilling rigs increased by 15 this week, erasing the loss of 15 from last week. West Texas’ Permian Basin oil field led the gains this week as operators added a net six rigs.

    Still, the nation’s total rig count, at 796, remains below 800. The last time the number of rigs was sitting below 800, the industry was recovering from an oil bust.

    Check out this week’s Baker Hughes rig count.

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