The US drilling rig count increased during the week ended Feb. 11, gaining 22 units—19 targeting oil—to 635 rigs working, according to Baker Hughes Inc. data.
The oil rig additions are the highest in 4 years, attributed to profit-seeking drillers as oil prices climb toward their highest levels since 2014. The 635 rigs drilling to end the week were up dramatically from the 397 working the same week a year ago.
Big rise in Texas
The tally of active US oil-directed rigs gained 19 units during the week to 516, an increase of 210 from a year ago. Gas-directed rigs edged up 2 units to 118, 28 more than were drilling for gas a year ago.
All 22 units to come online this week are land-based, bringing that count to 617. Rigs engaged in horizontal drilling gained 19 units to 574. Offshore rigs and those drilling in inland waters remained unchanged at 16 and 2, respectively.
The bulk of the week’s rig movement in the US was in Texas. With 13 more active units, the state now totals 300 rigs working.
Of the major drilling regions in Texas, the Permian basin had the biggest rise, gaining 7 units to 301 rigs working. The Eagle Ford rose 4 units to 54 while the Barnett showed a single unit increase to 3.
Elsewhere, Oklahoma, North Dakota, and Pennsylvania each gained 3 rigs this week, rising to respective counts of 53, 33, and 24 units. The Williston basin edged up 3 units to 34 while the Marcellus gained 2 rigs to reach 35.
Canada
Canada’s rig count rose just 1 unit for the week ending Feb. 11 to 219 rigs working. The count is up from the 176 rigs running the same week a year ago. One oil-directed rig lifted the overall count for a total of 137 rigs drilling. Gas-directed rigs in Canada remained unchanged at 82.
About the Author
Mikaila Adams
Managing Editor, Content Strategist
Mikaila Adams has 20 years of experience as an editor, most of which has been centered on the oil and gas industry. She enjoyed 12 years focused on the business/finance side of the industry as an editor for Oil & Gas Journal's sister publication, Oil & Gas Financial Journal (OGFJ). After OGFJ ceased publication in 2017, she joined Oil & Gas Journal and was later named Managing Editor - News. Her role has expanded into content strategy. She holds a degree from Texas Tech University.