US rotary rig count increases by 5 to 287
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The Baker Hughes U.S. rotary rig count was at 287 for the week ending Oct. 23, up by five from 282 the previous week, continuing an increase that began in mid-August. The count is still down substantially from a year ago, by 543 from 830.
When the count hit 244 the week of Aug. 14, it was not just the low for 2020, but the lowest it has been since the Houston based oilfield services company began issuing a weekly U.S. rig count in 1944.
Prior to this year, the low was 404 rigs in May 2016. The count peaked at 4,530 in 1981.
At the beginning of the year the count was in the low 790s, where it remained through mid-March, when it began to fall, dropping below what had been the historic low in early May with a count of 374 and continuing to drop through the third week of August when it gained back 10 rigs.
This week’s count includes 211 rigs targeting oil, up six from the previous week and down 485 from a year ago, 73 rigs targeting gas, down one from the previous week and down 60 from a year ago and three miscellaneous rigs, unchanged from the previous week and up two from a year ago.
Twenty-one of the holes were directional, 245 were horizontal and 21 were vertical.
Alaska count up by oneThe rig count for Texas (125), which has the most active rigs in the country, was up by two from the previous week, but down 293 from a year ago.
Alaska (3) and Oklahoma (15) were each up by one rig from the previous week.
Louisiana (37) was down by one rig.
Rig counts were unchanged in the remaining states: California (4), Colorado (4), New Mexico (45), North Dakota (11), Ohio (6), Pennsylvania (18), Utah (3), West Virginia (8) and Wyoming (3).
Baker Hughes shows Alaska with three active rigs Oct. 23, up by one from the previous week and down by five from a year ago.
The rig count in the Permian, the most active basin in the country, was up by three from the previous week at 133, but down 284 from a count of 417 a year ago.
- KRISTEN NELSON