U.S. oil and gas rig count began the new year with a small decline, falling by two rigs to 544 for the week ending January 9 according to Baker Hughes. Rigs were added in the Anadarko (+1) and All Other (+3), while the Permian (-3), Haynesville (-1), Bakken (-1) and Niobrara (-1) all saw declines. Total rig count is down five in the last 90 days, and down 45 from this week a year ago. Oil-directed rigs stand at 409 (-3) this week, with gas-directed rigs at 124 (-1) and miscellaneous rigs at 11 (+2).
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- Analyst Insight
U.S. Oil & Gas Rig Count Falls to 543 In Uneventful Week
In another relatively slow week, total U.S. rig count fell to 543, a decline of one vs. a week ago according to Baker Hughes data for the week ending January 16. One rig was lost in the All Other (-1) group, while all major basins were unchanged for the week. Total US rig count is down four in the last 90 days, and down 41 vs. this week a year ago. Oil-directed rigs grew to 410 (+1) on the week, with gas-directed rigs falling to 122 (-2) and miscellaneous rigs unchanged at 11.
- Analyst Insight
U.S. Rig Count Reverses Last Week's Loss, Climbs To 544
U.S. oil and gas rig count erased last week's decline, climbing by one rig back to 544 for the week ending January 23 according to Baker Hughes. The Niobrara (+3) was the only basin to add rigs, while the Gulf of Mexico (-1) and All Other (-1) both posted declines. Total rig count is down four in the last 90 days, and down 36 vs. this week a year ago. Oil-directed rigs increased to 411 (+1) this week, with gas-directed and miscellaneous rigs both unchanged at 122 and 11 respectively.
- Analyst Insight
Gas-Directed Rigs Continue Gains, Overall U.S. Drilling Activity Flat
Gas-directed drilling activity continued last week's gains, despite overall U.S. rig count remaining flat at 551 for the week ending February 13 according to Baker Hughes.
