The North American rig count is scheduled to be released at noon Central time on the last working day of each week.
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Baker Hughes said 338 rigs sought oil and 86 explored for natural gas.
The regional benchmark Plains-West Texas Intermediate Posting ended Friday at $41.25 per barrel, while national benchmark West Texas Intermediate crude ended at $44.66 per barrel.
Reuters reported the US rig count may be bottoming out as oil companies such as Anadarko Petroleum and Pioneer Natural Resources look to improved oil price outlooks. US crude futures were fetching about $46 for the balance of 2016 and about $48 for calendar 2017.
The rig-count data will continued to be monitored very closely, especially given the rebound in WTI prices to around the $45 p/b level with prices trading just below this level in United States trading on Friday. And each rig idled means more workers without jobs.
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Of the working rigs left in Colorado, 13 are active in the Denver-Julesburg Basin northeast of Denver and two on the Western Slope. There was also one more rig drilling in the Granite Wash this week compared to last. Off-topic, inappropriate or insulting comments will be removed.
