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US rig count at 397, up 5 week-over-week
Kristen Nelson Petroleum News
The Baker Hughes U.S. rotary drilling rig count continues to rise, up by five to 397 for the week ending Feb. 12, but still down substantially, by 393, 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. 12 count includes 306 rigs targeting oil, up seven from the previous week but down 372 from 678 a year ago, 90 rigs targeting gas, down two from the previous week and down 20 from 110 a year ago, and one miscellaneous rig, unchanged from the previous week and down one from a year ago.
Eighteen of the holes reported Feb. 12 were directional, 356 were horizontal and 23 were vertical.
Alaska unchanged from previous week The largest increase, up four from the previous week, was in Texas (193), which has the most active rigs in the country.
Louisiana (48) and North Dakota (13) were each up by one rig.
Oklahoma (17) was down by one rig from the previous week.
Counts in all other states remained unchanged: Alaska (4), California (7), Colorado (8), New Mexico (61), Ohio (7), Pennsylvania (18), Utah (3), West Virginia (12) and Wyoming (5).
Baker Hughes shows Alaska with four rigs active Feb. 12, unchanged from the previous week and down by five from a year ago, when the state’s count stood at nine.
The rig count in the Permian, the most active basin in the country, was up by five from the previous week at 203, but down by 205 from a count of 408 a year ago.
- KRISTEN NELSON
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