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Weekly US rotary rig count up by 5 at 453
Kristen Nelson Petroleum News
The Baker Hughes U.S. rotary drilling rig count, 453 on May 14, was up by five from 448 the previous week and up by 114 from a count of 339 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 14 count includes 352 rigs targeting oil, up by eight from the previous week and up by 94 from 258 a year ago, 100 rigs targeting gas, down by three from the previous week and up by 21 from 79 a year ago, and one miscellaneous rig, unchanged from the previous week and down by one from a year ago.
Twenty-eight of the rigs reported May 14 were drilling directional wells, 410 were drilling horizontal wells and 15 were drilling vertical wells.
Alaska up by one rig Louisiana (55) was up by three rigs from the previous week.
Alaska (4), North Dakota (16) and Oklahoma (22) were each up by a single rig.
Texas (216) was down by a single rig.
Counts in all other states were unchanged from the previous week: California (6), Colorado (10), New Mexico (70), Ohio (10), Pennsylvania (19), Utah (9), West Virginia (11) and Wyoming (4).
Baker Hughes shows Alaska with four rigs active May 14, up by one from the previous week and up by one 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 two from the previous week at 231 and up by 56 from a count of 175 a year ago.
- KRISTEN NELSON
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