North America added six rigs week on week, in accordance with Baker Hughes’ newest North America rotary rig depend, which was launched on October 17.
The entire U.S. rig depend elevated by one week on week and the entire Canada rig depend rose by 5 throughout the identical interval, taking the entire North America rig depend as much as 746, comprising 548 rigs from the U.S. and 198 rigs from Canada, the depend outlined.
Of the entire U.S. rig depend of 548, 528 rigs are categorized as land rigs, 17 are categorized as offshore rigs, and three are categorized as inland water rigs. The entire U.S. rig depend is made up of 418 oil rigs, 121 fuel rigs, and 9 miscellaneous rigs, in accordance with Baker Hughes’ depend, which revealed that the U.S. whole contains 486 horizontal rigs, 51 directional rigs, and 11 vertical rigs.
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Week on week, the U.S. offshore rig depend rose by two, its land rig depend dropped by one, and its inland water rig depend remained unchanged, Baker Hughes highlighted. The U.S. fuel rig depend rose by one week on week, and its oil and miscellaneous rig counts remained unchanged throughout the interval, the depend confirmed. The U.S. horizontal rig depend rose by six week on week, whereas its directional rig depend dropped by 4 and its vertical rig depend dropped by one, the depend revealed.
A serious state variances subcategory included within the rig depend confirmed that, week on week, New Mexico and Oklahoma every added two rigs, Colorado added one rig, Louisiana dropped two rigs, and Texas and Wyoming every dropped one rig.
A serious state variances subcategory included within the rig depend confirmed that, week on week, the Arkoma Woodford, Cana Woodford, DJ-Niobrara, Granite Wash, Mississippian, and Permian basins every added one rig.
Canada’s whole rig depend of 198 is made up of 136 oil rigs, 61 fuel rigs, and one miscellaneous rig, Baker Hughes identified. Week on week, the nation’s oil rig depend elevated by seven, its fuel rig depend dropped by two, and its miscellaneous rig depend remained unchanged, the depend revealed.
The entire North America rig depend is down 56 rigs in comparison with yr in the past ranges, in accordance with Baker Hughes’ depend, which confirmed that the U.S. has lower 37 rigs and Canada has lower 19 rigs, yr on yr. The U.S. has dropped 64 oil rigs and added 22 fuel rigs and 5 miscellaneous rigs, whereas Canada has dropped 17 oil rigs and three fuel rigs, and added one miscellaneous rig, yr on yr, the depend outlined.
In a report despatched to Rigzone by the JPM Commodities Analysis workforce on Sunday, analysts at J.P. Morgan highlighted that, “whole U.S. oil and fuel rigs elevated by two this week to 548, in accordance with Baker Hughes”.
“Oil centered rigs remained unchanged at 418, following the lack of 4 rigs the earlier week. In the meantime, pure fuel centered rigs elevated by one to 121 following a rise of two rigs final week,” the analysts added.
“The rig depend within the 5 main tight oil basins – we use the EIA [U.S. Energy Information Administration] basin definition – elevated by 4 to 400 rigs, whereas the rig depend within the two main tight fuel basins decreased by one to 82 rigs. Miscellaneous rigs remained unchanged at 9,” they continued.
The J.P. Morgan analysts went on to notice within the report that “the U.S. oil rig depend held regular this week, however regional traits continued to diverge”.
“Within the Texas portion of the Delaware Basin, operators idled one other rig – the fourth consecutive weekly decline and 6 rigs misplaced since late September. Midland and the New Mexico facet of the Delaware Basin every added one rig, bringing the NM Delaware whole to 93, the very best since early Might,” they famous.
“Exercise stays concentrated in the best Tier 1–2 acreage in Midland and NM Delaware, whereas the Texas Delaware, the place operators are more and more concentrating on lower-tier zones, continues to contract,” they added.
“Non permanent pipeline upkeep in West Texas could have additional restricted takeaway capability, contributing to the slowdown. General, whereas the headline rig depend stays regular, there’s a gradual reallocation of rigs towards higher-quality acreage,” the analysts went on to state.
In its earlier rig depend, which was launched on October 10, Baker Hughes revealed that North America added one rig week on week. The entire U.S. rig depend dropped by two week on week and the entire Canada rig depend elevated by three throughout the identical interval, that depend confirmed.
Baker Hughes’ October 3 rig depend revealed that North America’s rig depend remained unchanged week on week. The corporate’s September 26 rig depend revealed that North America added eight rigs week on week, its September 19 rig depend revealed that North America added six rigs week on week, its September 12 rig depend confirmed that North America added seven rigs week on week, and its September 5 rig depend additionally revealed that North America added seven rigs week on week.
In its August 29 rig depend, Baker Hughes confirmed that North America lower seven rigs week on week. The corporate’s August 22 rig depend confirmed that North America lower 4 rigs week on week, its August 15 rig depend revealed that North America added three rigs week on week, and its August 8 rig depend revealed that North America added two rigs week on week.
Baker Hughes’ August 1 rig depend confirmed that North America dropped seven rigs week on week, its July 25 rig depend revealed that North America added eight rigs week on week, its July 18 depend confirmed that North America added 17 rigs week on week, its July 11 rig depend confirmed that North America added 9 rigs week on week, and its July 3 depend highlighted that North America added three rigs week on week.
In its June 27 rig depend, Baker Hughes revealed that North America dropped six rigs week on week. The corporate’s June 20 rig depend confirmed that the entire North America rig depend remained unchanged week on week, its June 13 rig depend confirmed that North America added 20 rigs week on week, and its June 6 rig depend confirmed that North America lower two rigs week on week.
Baker Hughes’ Might 30 rig depend revealed that North America dropped 5 rigs week on week, its Might 23 depend confirmed that North America dropped 17 rigs week on week, and its Might 16 rig depend confirmed that North America added 5 rigs week on week. The corporate’s Might 9 rig depend revealed that North America lower 12 rigs week on week, its Might 2 depend revealed that North America dropped 11 rigs week on week, and its April 25 depend confirmed that North America dropped 4 rigs week on week.
Baker Hughes’ April 17 depend confirmed that North America dropped two rigs week on week, its April 11 rig depend revealed that North America lower 22 rigs week on week, the corporate’s April 4 rig depend confirmed that North America lower 12 rigs week on week, its March 28 depend revealed that North America lower 18 rigs week on week, and its March 21 rig depend additionally revealed that North America lower 18 rigs week on week. Baker Hughes’ March 14 depend confirmed that North America dropped 35 rigs week on week and its March 7 rig depend revealed North America lower 15 rigs week on week.
In its February 28 rig depend, Baker Hughes confirmed that North America added 5 rigs week on week. Its February 21 depend revealed that North America added three rigs week on week, its February 14 rig depend confirmed that North America dropped two rigs week on week, and its January 31 rig depend confirmed that North America added 19 rigs week on week.
The corporate’s January 24 rig depend revealed that North America added 12 rigs week on week, its January 17 depend confirmed that North America added 9 rigs week on week, and its January 10 rig depend outlined that North America added 117 rigs week on week.
Baker Hughes’ January 3 rig depend revealed that North America dropped one rig week on week and its December 27 rig depend confirmed that North America dropped 71 rigs week on week.
Baker Hughes states on its web site that it has issued rig counts as a service to the petroleum trade since 1944, when Baker Hughes Software Firm started weekly counts of U.S. and Canadian drilling exercise. On its web site, the corporate describes the figures as “an essential enterprise barometer for the drilling trade and its suppliers”. The corporate notes on its web site that working rig location info is offered partly by Enverus.
To contact the creator, e mail andreas.exarheas@rigzone.com
