Colorado, D.J. Basin rig counts unchanged this week

The number of rigs exploring for oil and natural gas in Denver-Julesburg Basin remained flat at 30 this week compared with last week, according to Baker Hughes Inc. (NYSE: BHI).

The rig count in the D.J. Basin, which includes territory in Northern Colorado, remained unchanged following a decline of three rigs last week from 33 week before. A rig can support 125 direct and indirect jobs in the region.

A year ago, the D.J. Basin rig count totaled 54 rigs, representing a 44-percent year-over-year decline from 30 rigs this week.

Northern Colorado producers have pulled rigs from the region as they cut capital budgets amid slumping oil prices. West Texas Intermediate crude oil prices fell 2 percent to $49.14 on Friday, down from highs topping $100 last summer.

The statewide rig count also remained flat at 37 rigs this week compared with last week. Colorado has lost 25 rigs, or 40 percent, from 62 rigs the same week last year.

This week, North Dakota and Texas lost six rigs apiece, tying for the most rigs lost of any state tracked by Baker Hughes. Only Alaska and Virginia gained rigs at one apiece.

Wyoming’s rig count remained unchanged at 28 rigs this week versus last week, though the state has lost 21 rigs from the 48 exploring for oil and gas during the same week a year earlier.

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