US rig count at highest level in more than 3 years.

Oct. 22, 2004
US drilling activity was up by 25 units to 1,250 rotary rigs working this week, the largest count since the week ended Sept. 3, 2001, when 1,252 rigs were making hole, said officials Friday at Baker Hughes Inc.

By OGJ editors

HOUSTON, Oct. 22 -- US drilling activity was up by 25 units to 1,250 rotary rigs working this week, the largest count since the week ended Sept. 3, 2001, when 1,252 rigs were making hole, said officials Friday at Baker Hughes Inc. That compares to a count of 1,090 active rigs at this time last year.

Land drilling accounted for most of the gain, up by 20 rigs to 1,135 working. Offshore drilling increased by 3 rigs to 90 in the Gulf of Mexico and 95total in US waters. Inland water activity gained 2 rigs for a total of 20.

However, Canada's weekly rig count plunged by 54 units to 356 working rigs, down from 389 a year ago.