Rig counts climbs again in the US

August 16, 2011 in Blog, Industry Trends, News & Articles by

The weekly rig report from oilfield services firm Baker Hughes (NYSE:BHI), shows the number of rotary drilling rigs in the United States has climbed and shows more healthy growth while the rig activity in Canada does the opposite.

The US gained 11 rigs last week, 2 offshore and 9 onshore.  Of the rigs in the US a majority (1,021) are drilling for oil and the rest (889) are drilling for natural gas.  When broken down further, most of the US wells are horizontal wells, 1,102 to be exact, there are also 570 rigs drilling vertical wells, and 244 rigs drilling directional wells.

Texas gained 3 rigs last week and remains the leading state with 864 actively drilling wells. With 190 new rigs year over year, Texas has multiple unconventional formations in which operators are actively drilling and developing, including the Haynesville Shale, Eagle Ford Shale, Permian Basin and Barnett Shale.

Activity in the Woodford Shale has helped Oklahoma surpass Louisiana to take the second spot for rig activity with 177 active rigs. While Oklahoma has a strong history of oil and gas drilling and production, activity in the Sooner State had waned over the last several years. In just the last 12 months, Oklahoma has gained 45 rigs.

Gaining one rig this week, Louisiana has 174 rigs actively drilling in the state, including 35 of the 37 rigs working offshore in the US Gulf of Mexico.

North Dakota continues to add rigs to its line-up with four more this week for a total of 158 rigs actively drilling in the oil-rich Bakken Shale.

Flush with natural gas production from the Marcellus Shale, Pennsylvania has 116 active rigs in the state, an increase of one during the week and 28 over the year.

Increased drilling and develop of the various unconventional and shale plays across the US has spurred a onshore drilling resurgence, increasing infrastructure investments, mergers and acquisitions, as well as job opportunities across the nation.

Canada lost 18 rigs this week, dropping to 376 active drilling rigs in the nation, which is an increase of 27 year over year.

Please note that the original information in the new above can be found here.

Leave a Comment

Tags  , ,