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Weekly US rotary rig count up by 8 to 448
Kristen Nelson Petroleum News
The Baker Hughes U.S. rotary drilling rig count, 448 on May 7, was up by eight from 440 the previous week and up by 74 from a count of 374 a year ago.
When the count bottomed out at 244 in mid-August last year, it was not just the low for 2020, but the lowest the count has been since the Houston based oilfield services company began issuing weekly U.S. numbers in 1944.
Prior to 2020, the low was 404 rigs in May 2016. The count peaked at 4,530 in 1981.
The count was in the low 790s at the beginning of 2020, 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.
The May 7 count includes 344 rigs targeting oil, up by two from the previous week and up by 52 from 292 a year ago, 103 rigs targeting gas, up by seven from the previous week and up by 23 from 80 a year ago, and one miscellaneous rig, down by one from the previous week and down by one from a year ago.
Twenty-three of the holes reported May 7 were directional, 408 were horizontal and 17 were vertical.
Alaska unchanged from previous week Texas (217) was up by five rigs from the previous week.
Louisiana (52) was up by three.
Pennsylvania (19) and Utah (9) were each up by one rig.
California (6) was down by a single rig.
Counts in all other states were unchanged from the previous week: Alaska (3), Colorado (10), New Mexico (70), North Dakota (15), Ohio (10), Oklahoma (21), West Virginia (11) and Wyoming (4).
Baker Hughes shows Alaska with three rigs active May 7, unchanged from the previous week and unchanged from a year ago, when the state’s count also stood at three.
The rig count in the Permian, the most active basin in the country, was up by five from the previous week at 229 and up by 31 from a count of 198 a year ago.
International count down Baker Hughes’ April international rig count of 695, released May 7, was down 20 rigs from March, with land rigs down 16 to 530 and offshore rigs down four to 165.
The company said the international count is down 220 from last year’s count of 915, with land rigs down 157 and offshore rigs down 63.
The U.S. rig count for April averaged 436, up 28 from a March average of 408 and down 130 year-over-year.
In Canada the average count for April was 58, down 51 from a March count of 108 and up 25 year-over-year.
The worldwide count, international plus U.S. and Canada, was 1,189 in April, down 43 from a March count of 1,231 and down 325 from 1,514 in April 2020.
The Houston based oilfield services company began issuing weekly U.S. numbers in 1944 and began issuing the monthly international rig count in 1975.
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