National rig count edges up by five
The number of rigs searching for oil and natural gas this week grew by five nationally, with Oklahoma contributing to that number by adding one rig, Baker Hughes reported Friday.
The country's rig count increased to 1,052, up about 9.5 percent from 952 one year ago. Rigs drilling for oil accounted for all of the increase, moving to 863. The number of natural gas rigs remained at 187 and the number of working miscellaneous rigs remained at two.
In Oklahoma, this week's count of 141 was up from 136 working in the state a year ago. The number of rigs working in the Cana Woodford basin — home to Oklahoma's SCOOP and STACK fields — dropped by six rigs to 68. Still, the field remains the third most active in the country, behind the south Texas Eagle Ford at 81 and the Permian in west Texas and southeast New Mexico at 475.
Texas remained the most active drilling state, with 526 operating rigs.
Ascent Resources expands borrowing base
Ascent Resources, based in Oklahoma City, has announced it amended its revolving credit facility increasing its overall size and the company's borrowing base.
Officials said the changes are not connected to the company's announced plans to spend about $1.5 billion to acquire natural gas and oil lease and mineral rights holdings in the Utica Shale field from four sellers.
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