Permian Basin drilling continues to grow

The U.S. rig count has increased for the thirteenth consecutive week, according to Baker Hughes’ weekly rig count. Active rigs in the U.S. increased by eight this week to a total of 847. Land rigs added ten, while inland waters and offshore rigs each lost one.

Rigs continued to transition to oil, as eleven additional oil rigs brought the total oil rigs in the U.S. to 683. Gas rigs lost three this week, bringing their total count to 162.

As usual, horizontal rigs saw the largest increase this week, adding 11 rigs to bring the total horizontal rigs active in the U.S. to 706. Vertical rigs added four to end the week at 77, while seven directional rigs came offline, decreasing the total directional rigs to 64.

New Mexico saw the largest increase in active rigs, adding seven to end the week with 58 operational. Oklahoma added three rigs this week, while Texas added two.

As in many weeks this year, the Permian Basin saw the largest increase in rigs. Eight rigs came online in the basin this week, bringing the total active Permian rigs to 339. The Permian has 198 more rigs active today than it did this time last year, and has added more than every other major basin combined. Three rigs came online in the Eagle Ford, while the Cana Woodford added two. The Utica, Williston and the DJ-Niobrara each added one rig this week, while the Granite Wash and Haynesville each lost one.

Canadian rigs continued to slide, losing 14 active rigs this week. The Canadian rig count has decreased steadily since February, falling from 341 to the current total of 118. This is unsurprising, as active rigs in Canada typically drop sharply in early spring as weather conditions change.

U.S. Rig Count Up for Thirteenth Week

Source: Baker Hughes

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