Tuesday, January 25, 2011

US Rig Count Increases

by OGJ editors, OGJ, Jan 21, 2011
After sticking 2 consecutive weeks at 1,700 working rigs, US drilling activity increased by 13 units to 1,713, up dramatically from 1,282 rigs drilling in the comparable week last year, Baker Hughes Inc. reported.

Land operations were at the forefront as usual with a gain of 10 units to 1,671 active rigs this week. Inland waters activity increased by 1 to 15 units. Offshore drilling was up 2 to 27, all in the Gulf of Mexico.

Of the US rigs working, 906 were drilling for gas, 4 more than the previous week; and 798 were drilling for oil, an increase of 9. There were 9 rotary rigs unclassified. Horizontal drilling was down by 1 to 966 units. Directional drilling increased by 14 to 233 rigs.

Among major producing states, Texas had the biggest increase in its rotary rig count this week, up 10 to 741 drilling. Oklahoma had 168 rigs working, 4 more than the previous week. Louisiana increased by 3 to 169. There were 41 rigs drilling in California, an addition of 2. North Dakota, New Mexico, and Arkansas added 1 rig each for respective counts of 98, 73, and 38. Wyoming was unchanged with 46 units making hole. Colorado and West Virginia were down 1 rig each to 62 and 20, respectively. Alaska’s rig count dropped by 3 to 3, while Pennsylvania fell by 5 units to 98 still active.

Canada’s rotary rig count had a seasonal jump of 44 units to 621 drilling, compared with 495 working in the same period of 2010. [Full story]

(The Baker Hughes Rotary Rig Counts are counts of the number of drilling rigs actively exploring for or developing oil or natural gas in the United States, Canada and international markets. Baker Hughes has issued the rotary rig counts as a service to the petroleum industry since 1944, when Hughes Tool Company began weekly counts of U.S. and Canadian drilling activity. Hughes initiated the monthly international rig count in 1975. The North American rig count is released weekly at noon central time on the last day of the work week. The international rig count is released on the fifth working day of each month. The Baker Hughes Rig Counts are an important business barometer for the drilling industry and its suppliers. Since 1944 the highest weekly US rig count was 4,530 recorded on December 28, 1981, the height of the oil boom. The lowest rig count of 488 was recorded on April 23, 1999. In Canada the highest weekly rig count of 718 was recorded on February 17, 2006. The lowest weekly rotary rig count of 29 was recorded on April 24, 1992. See also the worldwide rig count (widget) on the right hand side of my blog -- D.R.)

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