June 4, 2018 - 10:06 AM EDT
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U.S. Inland Waters and Gulf of Mexico Rig Counts Continue to Rise While U.S. Land Counts Remain Flat

HOUSTON, June 4, 2018 /PRNewswire/ -- S&P Global Platts Analytics, today announced  the total U.S. rig count for May 2018 was 1,164, up 17 (+1%) from April 2018, and up 138 (+13%) from May 2017. This rig count includes U.S. onshore, U.S. inland waters, and U.S. offshore Gulf of Mexico drilling rigs.

  • May U.S. land rig count: 1,111, up 12 (+1%) from the previous month and up 135 (+14%) from May 2017
  • May U.S. inland waters and Gulf of Mexico rig count: 53, up 5 (+10%) from the previous month and up 3 (+6%) from May 2017

"Recently, the smaller, more price-sensitive oil and gas rig operators have driven activity gains," said S&P Global Platts Senior Industry Analyst Trey Cowan.  "But now that near-term crude oil prices appear to have plateaued we would not be surprised to see those same smaller operators pull back on their drilling."

S&P Global Platts Rig Analyst Trevor Crone pointed to the improved month-over-month economic conditions for rig operators in the U.S. inland waters and the Gulf of Mexico.

S&P Global Platts U.S. Rig Counts

















May 2018

April 2018

Month over Month Change

% Change


May 2017

Variance Year over Year (YOY)

YOY % Variance

Colorado

34

31

3

10%


37

-3

-8%

Louisiana

44

41

3

7%


47

-3

-6%

New Mexico

91

87

4

5%


56

35

63%

North Dakota

54

55

-1

-2%


45

9

20%

Oklahoma

144

143

1

1%


140

4

3%

Texas

566

567

-1

0%


497

69

14%

Rest of U.S. Land

178

175

3

2%


154

24

16%

U.S. Land Subtotal

1,111

1,099

12

1%


976

135

14%

U.S. Inland Waters

14

11

3

27%


14

0

0%

U.S. Gulf of Mexico

39

37

2

5%


36

3

8%

U.S. Inland and Gulf of Mexico

53

48

5

10%


50

3

6%

Total U.S. Rig Count

1,164

1,147

17

1%


1,026

138

13%

CONTACT
Kathleen Tanzy, + 1 917 331 4607, [email protected]

About S&P Global Platts
At S&P Global Platts, we provide the insights; you make better informed trading and business decisions with confidence. We're the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture and shipping.

S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.platts.com.

Cision View original content:http://www.prnewswire.com/news-releases/us-inland-waters-and-gulf-of-mexico-rig-counts-continue-to-rise-while-us-land-counts-remain-flat-300659076.html

SOURCE S&P Global Platts


Source: PR Newswire (June 4, 2018 - 10:06 AM EDT)

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