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Up by 8, week-over-week, rig count at 392
Kristen Nelson Petroleum News
The Baker Hughes U.S. rotary drilling rig count continues to rise, up by eight to 392 for the week ending Feb. 5, but still down substantially, by 398, from a count of 790 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 Feb. 5 count includes 299 rigs targeting oil, up four from the previous week but down 377 from 676 a year ago, 92 rigs targeting gas, up four from the previous week but down 19 from 111 a year ago, and one miscellaneous rig, unchanged from the previous week and down two from a year ago.
Eighteen of the holes reported Feb. 5 were directional, 354 were horizontal and 20 were vertical.
Alaska unchanged from previous week The largest increase, up seven from the previous week, was in Texas (189), which has the most active rigs in the country.
Ohio (7) was up by two rigs and New Mexico (61) was down by one rig from the previous week.
Counts in all other states remained unchanged: Alaska (4), California (7), Colorado (8), Louisiana (47), North Dakota (12), Oklahoma (18), Pennsylvania (18), Utah (3), West Virginia (12) and Wyoming (5).
Baker Hughes shows Alaska with four active rigs Feb. 5, unchanged from the previous week and down by six from a year ago, when the state’s count stood at 10.
The rig count in the Permian, the most active basin in the country, was up by six from the previous week at 198, but down by 207 from a count of 405 a year ago.
International count up by 12 Baker Hughes’ January international rig count, released Feb. 5, is up by 12 to 677 rigs from the December count, and down 401 from last year’s January account of 1,078. There were 507 land rigs, down two from December and down 326 from last January, and the offshore rig count was up 14 at 170 but down 75 from January 2020.
The international count excludes U.S. and Canada rigs.
U.S. rigs averaged 369 in January up 30 from December and down 422 year-over-year, and Canada rigs averaged 137 in January, up 37 from a December count of 100 and down 67 from January 2020.
Baker Hughes said the worldwide count for January for all rigs was 1,183, up 79 from 1,104 in December and down 890 from 2,073 in January 2020.
Baker Hughes has issued weekly rig counts for the U.S. and Canada since 1944 and began issuing international rig counts in 1975.
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