North
American Rotary Rig Counts
The U.S.
rotary rig count
was down 3 at 1,839 for the week of May 2, 2008 and is 5.3
percent higher
than last year.
The
number of rotary rigs
drilling for oil is down 3 at 357. The number of rigs
targeting
oil is 75 greater than last year's level of activity. Rigs currently drilling
for oil represent 19.4% percent of total drilling activity.
Rigs
directed toward natural
gas were down unchanged at 1,473. The number of rigs currently drilling
for
gas
is 11 greater than last year's level of 1,462.
Year-over-year
oil exploration
in the US is up 26.6 percent. Gas exploration is up 0.8 percent. The
weekly
average of crude oil spot prices is 81.8 percent higher than last
year
and natural gas spot prices are 42.7 percent higher. Daily
crude oil and natural gas futures and spot prices are available on
our site.
Canadian
rig activity*
was up 7 at 95 for the week of May 2, 2008 and is 6 greater than last
year's rig count. Canadian drilling falls rapidly in
the
spring to avoid environmental damage during the spring thaw and rainy
season.
*The
Canadian drilling
industry experiences wide seasonal swings and even year over year
comparisons
can lead to incorrect conclusions.
North
American Rig Count
|
|
|
|
Change
|
Percent Change |
|
05/02/08 |
04/25/08 |
05/04/07 |
Weekly |
Annual |
Weekly |
Annual |
| Total U.S. |
1,839 |
1,842 |
1,747 |
(3) |
92 |
-0.2% |
5.3% |
| Offshore |
69 |
67 |
74 |
2 |
(5) |
3.0% |
-6.8% |
| Land |
1,770 |
1,775 |
1,673 |
(5) |
97 |
-0.3% |
5.8% |
| Inland Waters |
23 |
25 |
30 |
(2) |
(7) |
-8.0% |
-23.3% |
| Oil |
357 |
360 |
282 |
(3) |
75 |
-0.8% |
26.6% |
| Percent |
19.4% |
19.5% |
16.1% |
-0.1% |
3.3% |
|
|
| Gas |
1,473 |
1,473 |
1,462 |
0 |
11 |
0.0% |
0.8% |
| Percent |
80.1% |
80.0% |
83.7% |
0.1% |
-3.6% |
|
|
| Directional |
372 |
374 |
374 |
-2 |
-2 |
-0.5% |
-0.5% |
| Horizontal |
515 |
511 |
371 |
4 |
144 |
0.8% |
38.8% |
| Gulf of Mexico |
67 |
64 |
73 |
3 |
-6 |
4.7% |
-8.2% |
| Gulf Oil |
1 |
1 |
0 |
0 |
1 |
0.0% |
n.a. |
| Percent |
1.5% |
1.6% |
0.0% |
-0.1% |
1.5% |
|
|
| Gulf Gas |
66 |
63 |
73 |
3 |
-7 |
4.8% |
-9.6% |
| Percent |
98.5% |
98.4% |
100.0% |
0.1% |
-1.5% |
|
|
| Canada |
95 |
88 |
89 |
7 |
6 |
8.0% |
6.7% |
| Oil |
33 |
24 |
46 |
9 |
(13) |
37.5% |
-28.3% |
| Percent |
34.7% |
27.3% |
51.7% |
7.5% |
-16.9% |
|
|
| Gas |
62 |
64 |
43 |
(2) |
19 |
-3.1% |
44.2% |
| Percent |
65.3% |
72.7% |
48.3% |
-7.5% |
16.9% |
|
|
| North America |
1,934 |
1,930 |
1,836 |
4 |
98 |
0.2% |
5.3% |
Monthly:
International and Workover Rig Counts
International
rig count,
which excludes the US and Canada, was up 22 to 1,054 for the
month
of March, 2008 and is 60 rigs or 6.0 percent above last
year's 994.
The total
number of rotary
rigs worldwide in February was 3,259 down 158 from February and 124 higher than
last year.
US
workover rig count for June,
2007 was down 9 to 1,548 and is 100
rigs below last year's level
of 1,657.
Source: Baker-Hughes
|
Change
|
Percent Change |
|
Mar, 2008 |
Feb 2008 |
Mar, 2007 |
Monthly |
Annual |
Monthly |
Annual |
| International Rig Count* |
1,054 |
1,032 |
994 |
22 |
60 |
2.1% |
6.0% |
| World Rig Count |
3,259 |
3,417 |
3,135 |
(158) |
124 |
-4.6% |
4.0% |
| U.S. Workover Rig Count** |
1,548 |
1,557 |
1,647 |
(9) |
(99) |
-0.6% |
-6.0% |
*International Excludes
the U.S. and Canada
**Baker Hughes discontinued their workover rig count. The latest data
reported is for June, 2007. |
The
Rig Count page
will be updated as the data becomes available. US rotary and Canadian
rig
counts are updated weekly. International, world and workover rig
counts are updated mid month. The oil price shown in all long
term
graphs and all but the short term graph of US and Canadian rotary rig
counts
is US average wellhead price. The price in the short term US and
Canadian
rotary rig count graphs is WTI spot.
|
|
