Denver-Julesburg Basin drilling rig count drops to 39

The number of rigs exploring for oil and natural gas in the Denver-Julesburg Basin declined by three to 39 total rigs this week from 42 last week, according to the latest report from Baker Hughes Inc. (NYSE: BHI).

The D.J. Basin, an oil and gas drilling region in Colorado, Wyoming and Nebraska that includes Weld County, has shed 15 rigs from 54 the same time a year ago. A rig can support 125 direct and indirect jobs in the region.

Companies have withdrawn drilling rigs amid falling oil prices. The price of West Texas Intermediate crude oil fell 1.6 percent to $50.34 on Friday, less than half of highs topping $100 seen last summer.

As a state, Colorado lost two rigs this week for a total of 47 rigs. Year over year, the state has lost 13 rigs this week from its 60 rigs at the same time last year.

The U.S. lost 48 rigs this week for a total of 1,310, down from 1,358 last week. Year over year, the nation has lost 461 rigs.

Texas lost the most rigs in the country, dropping 22 rigs this week for a total of 576. The state has shed 270 since a year ago.

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