The Baker Hughes Inc. US rig count’s 19th straight weekly increase came by way of Colorado and gas-directed rigs instead of the usual lift from Texas and oil-directed rigs.
The overall count gained 7 units during the week ended May 26 to 908, up 504 units since a bottom in recent BHI data on this week a year ago and its highest point in more than 2 years (OGJ Online, May 19, 2017). Since May 27, 2016, the count has risen in all but 5 weeks.
Gas-directed rigs rose 5 units to 185, up 104 units since Aug. 26, 2016, as part of their own rebound. Oil-directed rigs increased 2 units to 722, up 406 units since their nadir in recent BHI data on May 27, 2016. One rig considered unclassified remained active.
According to US Energy Information Administration data, US crude oil production for the week ended May 19 gained 15,000 b/d to average 9.32 million b/d. The Lower 48 contributed a 20,000-b/d increase, slightly offset by a 5,000-b/d decrease from Alaska.
All 7 units are drilling onshore, bringing that tally to 881. Also up 7, horizontal rigs now total 766, an increase of 452 since May 27, 2016. At 84.4% of the overall US rig count, horizontal rigs have never represented a larger portion of total units working. Directional drilling rigs edged down a unit to 65.
Both offshore rigs and those drilling in inland waters were unchanged during the week at 23 and 4, respectively.
Colorado, DJ-Niobrara climb
Colorado led the major oil- and gas-producing states with a 5-unit jump to 34, up 18 year-over-year. The DJ-Niobrara gained 4 units to 27, up 14 year-over-year. All 27 of the rigs drilling in the DJ-Niobrara are targeting oil.
Oklahoma, New Mexico, North Dakota, and Alaska each increased 1 unit to 123, 57, 45, and 7, respectively. Oklahoma is up 69 units since its recent low on June 24, 2016; New Mexico is up 44 units since Mar. 18, 2016; and North Dakota is up 23 units since June 3, 2016.
The Cana Woodford gained 3 units to 56, up 32 units since June 24, 2016. The Permian edged up a unit to 362, up 228 since its recent low on May 13, 2016. The Williston increased a unit to 45, up 23 since June 3, 2016.
Texas posted its first loss in 19 weeks, edging down 1 unit to 458, still up 285 since its nadir on May 27, 2016. The Eagle Ford, however, rose a unit to 86, up 57 since June 3, 2016.
Canada appears to be launching its annual summer drilling rebound, rising for a second straight week after dropping in the previous 11 weeks. Up 8 units to 93, its count is down 259 units since Feb. 10. Gas-directed and oil-directed rigs each contributed 4 units to reach respective totals of 53 and 40.
Contact Matt Zborowski at [email protected].
