North American Rotary
Rig Counts
The U.S.
rotary rig count from Baker Hughes was up 2 at
758 for the week of July 22, 2022. It is 267 rigs (54.4%) higher than
last year.
The
number of rotary rigs drilling for oil is
unchanged at 599. There are 212 more rigs
targeting oil than last year. Rigs drilling for
oil are 79.0 percent of all drilling
activity.
Rigs
targeting natural gas were up 2 at 155. The
number of rigs drilling for gas is 51 higher
than last year.
Unspecified
or miscellaneous rig count is unchanged at 4
and is 4 higher last year.
Year-over-year
oil
exploration in the U.S. is up 54.8 percent. Gas
exploration is up 49.0 percent. The
weekly average of crude oil spot price is 43.0 percent higher
than last year and natural
gas spot prices are 98.6 percent higher than last
year. See Oil
Futures Price Goes Negative.
Daily crude oil and
natural gas futures and spot prices are
available on our site.
Canadian rig
activity was up 4 at 195 for the week of July
22, 2022 and is 46 (30.9%) higher
than last year. Rigs targeting oil
were down 1 to 124 and are 31 (33.3%)
higher than last year. Gas directed rig count
at 71 is up 5 for the week and is 16 (29.1%)
higher than last year.
Miscellaneous rig count was unchanged at 0.
Canadian drilling falls rapidly in the spring
to avoid environmental damage by moving
drilling equipment during the spring thaw and
rainy season. With large
weather related seasonal swings, even
year-over-year comparisons can lead to
incorrect conclusions. Also, Canadians seem to
take their holidays more serious than their
counterparts in the U.S. and rig count usually
drops near holidays.
North American Rig Count
|
Change
|
Percent Change |
|
07/22/2022 |
07/15/2022 |
07/23/2021 |
Weekly |
Annual |
Weekly |
Annual |
Total U.S. |
758 |
756 |
491 |
2 |
267 |
0.3% |
54.4% |
Offshore |
16 |
14 |
17 |
2 |
(1) |
14.3% |
-5.9% |
Land |
742 |
742 |
474 |
0 |
268 |
0.0% |
56.5% |
Inland
Waters |
4 |
4 |
1 |
0 |
3 |
0.0% |
300.0% |
Oil |
599 |
599 |
387 |
0 |
212 |
0.0% |
54.8% |
Percent |
79.0% |
79.2% |
78.8% |
-0.2% |
0.2% |
|
|
Gas |
155 |
153 |
104 |
2 |
51 |
1.3% |
49.0% |
Percent |
20.4% |
20.2% |
21.2% |
0.2% |
-0.7% |
|
|
Miscellaneous
|
4 |
4 |
0 |
0 |
4 |
|
|
Percent |
0.5% |
0.5% |
0.0% |
-0.0% |
0.5% |
|
|
Directional |
40 |
40 |
33 |
0 |
7 |
0.0% |
21.2% |
Horizontal |
687 |
686 |
439 |
1 |
248 |
0.1% |
56.5% |
Vertical |
31 |
30 |
19 |
1 |
12 |
3.3% |
63.2% |
Gulf of Mexico |
14 |
13 |
17 |
1 |
-3 |
7.7% |
-17.6% |
Gulf Oil |
14 |
13 |
17 |
1 |
-3 |
7.7% |
-17.6% |
Percent |
100.0% |
100.0% |
100.0% |
0.0% |
0.0% |
|
|
Gulf Gas |
0 |
0 |
0 |
0 |
0 |
n.a. |
n.a. |
Percent |
0.0% |
0.0% |
0.0% |
0.0% |
0.0% |
|
|
Canada |
195 |
191 |
149 |
4 |
46 |
2.1% |
30.9% |
Oil |
124 |
125 |
93 |
(1) |
31 |
-0.8% |
33.3% |
Percent |
63.6% |
65.4% |
62.4% |
-1.9% |
1.2% |
|
|
Gas |
71 |
66 |
55 |
5 |
16 |
7.6% |
29.1% |
Percent |
36.4% |
34.6% |
36.9% |
1.9% |
-0.5% |
|
|
North America |
953 |
947 |
640 |
6 |
313 |
0.6% |
48.9% |
Prices
|
|
|
|
|
|
|
|
Oil $/bbl. |
$99.55 |
$97.92 |
$69.62 |
$1.63 |
$29.93 |
1.7% |
43.0% |
Oil $/mmbtu |
$17.16 |
$16.88 |
$12.00 |
$0.28 |
$5.16 |
1.7% |
43.0% |
Gas $/mmbtu |
$7.80 |
$6.58 |
$3.92 |
$1.22 |
$3.87 |
18.5% |
98.6% |
Monthly: International
Rig Counts