The US rig count ended a 5-week streak of declines with a surprise 9-unit jump to 907 during the week ended Nov. 10, data from Baker Hughes indicate. The cumulative increase reflects gains in land-based and oil-targeting rigs.
Sixty rigs had gone offline through the week ended Nov. 3 after a recent peak of 958 on July 28 (OGJ Online, Nov. 3, 2017). In the 15 weeks since that peak, the count has dropped 11 times, and the decline had accelerated over the past few weeks.
A 9-unit increase in oil-directed rigs brought their tally to 738, down 30 units since their recent peak on Aug. 11. Gas-directed rigs were unchanged at 169.
Onshore rigs now total 888, with rigs drilling horizontally up 12 units to 776, down 34 units since July 28. Rigs drilling directionally rose a unit to 74, while rigs drilling vertically dropped 4 units to 57.
Oklahoma led the major oil- and gas-producing states with a 6-unit gain to 123, down 13 units since its recent peak on July 7. The Cana Woodford spiked 7 units to 73, its highest point in Baker Hughes data.
New Mexico increased 4 units to 69, while the Permian climbed 6 units to 386. Both New Mexico and the Permian matched their highest count since February 2015. Alaska rose a unit to 6.
West Virginia and the Utica each fell a unit to 12 and 29, respectively. Texas dropped 2 units to 442, down 14 since Aug. 4. The Eagle Ford, however, rose 2 units to 67, down 19 units since June 2.
Canada gained 11 units to 203. Oil-directed rigs climbed 8 units to 108, gas-directed rigs rose 4 units to 95, and the country’s only rig considered unclassified went offline.
Contact Matt Zborowski at [email protected].