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North
American Rotary Rig Counts
The U.S.
rotary rig count was up 23 at 1,792 for the week of March 7,
2014. It is 40 rigs (2.3%) higher
than last year.
The
number of rotary rigs
drilling for oil was up 13 at 1,443. There 102 more rigs
targeting
oil than last year. Rigs drilling
for oil represent 80.5 percent of all drilling activity.
Rigs
directed toward natural
gas were up 10 at 345. The number of rigs drilling
for
gas is 62 lower than last year's level of 407.
Year-over-year
oil exploration
in the U.S. is up 7.6 percent. Gas exploration is down 15.2 percent.
The
weekly
average of crude oil spot prices
is 13.0 percent higher than last
year
and natural gas spot prices are 81.1 percent higher than last year. Daily
crude oil and natural gas futures and spot prices
are available on
our site.
Canadian
rig activity is down 39 at 587 for the week of March 7, 2014 and is 7 (1.2%) higher than last
year's rig count.
The number of rigs drilling for oil was down 34 at 389 and is 62
(13.7%) lower than last year. Gas directed rig count at 198 was down 5
and is 69 rigs
(53.5%) higher than last
year. Canadian
drilling falls
rapidly in
the
spring to avoid environmental damage moving drilling equipment during
the spring thaw and rainy
season. With wide weather related seasonal
swings, even
year-over-year
comparisons
can lead to incorrect conclusions.
North American Rig
Count
|
Change
|
Percent Change |
|
03/07/2014 |
02/28/2014 |
03/08/2013 |
Weekly |
Annual |
Weekly |
Annual |
| Total U.S. |
1,792 |
1,769 |
1,752 |
23 |
40 |
1.3% |
2.3% |
| Offshore |
55 |
55 |
51 |
0 |
4 |
0.0% |
7.8% |
| Land |
1,737 |
1,714 |
1,701 |
23 |
36 |
1.3% |
2.1% |
| Inland Waters |
18 |
18 |
19 |
0 |
(1) |
0.0% |
-5.3% |
| Oil |
1,443 |
1,430 |
1,341 |
13 |
102 |
0.9% |
7.6% |
| Percent |
80.5% |
80.8% |
76.5% |
-0.3% |
4.0% |
|
|
| Gas |
345 |
335 |
407 |
10 |
(62) |
3.0% |
-15.2% |
| Percent |
19.3% |
18.9% |
23.2% |
0.3% |
-4.0% |
|
|
| Directional |
198 |
197 |
195 |
1 |
3 |
0.5% |
1.5% |
| Horizontal |
1,202 |
1,181 |
1,130 |
21 |
72 |
1.8% |
6.4% |
| Vertical |
392 |
391 |
427 |
1 |
-35 |
0.3% |
-8.2% |
| Gulf of Mexico |
53 |
53 |
49 |
0 |
4 |
0.0% |
8.2% |
| Gulf Oil |
36 |
36 |
35 |
0 |
1 |
0.0% |
2.9% |
| Percent |
67.9% |
67.9% |
71.4% |
0.0% |
-3.5% |
|
|
| Gulf Gas |
17 |
17 |
14 |
0 |
3 |
0.0% |
21.4% |
| Percent |
32.1% |
32.1% |
28.6% |
0.0% |
3.5% |
|
|
| Canada |
587 |
626 |
580 |
(39) |
7 |
-6.2% |
1.2% |
| Oil |
389 |
423 |
451 |
(34) |
(62) |
-8.0% |
-13.7% |
| Percent |
66.3% |
67.6% |
77.8% |
-1.3% |
-11.5% |
|
|
| Gas |
198 |
203 |
129 |
(5) |
69 |
-2.5% |
53.5% |
| Percent |
33.7% |
32.4% |
22.2% |
1.3% |
11.5% |
|
|
| North America |
2,379 |
2,395 |
2,332 |
(16) |
47 |
-0.7% |
2.0% |
Prices
|
| Oil $/bbl. |
$102.84 |
$102.45 |
$90.98 |
$0.39 |
$11.86 |
0.4% |
13.0% |
| Oil $/mmbtu |
$17.73 |
$17.66 |
$15.69 |
$0.07 |
$2.05 |
0.4% |
13.0% |
| Gas $/mmbtu |
$6.48 |
$5.21 |
$3.58 |
$1.26 |
$2.90 |
24.3% |
81.1% |
Monthly:
International Rig Counts
International
rig count,
which excludes the US and Canada, was down 16 to 1,325 for the
month
of January 2014 and is 46 rigs (3.6%) above
last
year's 1,279 rigs.
The total
number of rotary
rigs worldwide in January was
3,598 up 120 from December and 59 (1.7%)
higher than
last year.
| Worldwide Rotary Rig
Count |
Change
|
Percent Change |
|
January 2014 |
December 2013 |
January 2013 |
Monthly |
Annual |
Monthly |
Annual |
| Latin
America |
401 |
417 |
414 |
(16) |
(13) |
-3.8% |
-3.1% |
| Europe |
126 |
126 |
134 |
0 |
(8) |
0.0% |
-6.0% |
| Africa |
139 |
138 |
115 |
1 |
24 |
0.7% |
20.9% |
| Middle
East |
403 |
405 |
379 |
(2) |
24 |
-0.5% |
6.3% |
| Far
East |
256 |
249 |
237 |
7 |
19 |
2.8% |
8.0% |
| International |
1,325 |
1,335 |
1,279 |
(10) |
46 |
-0.7% |
3.6% |
| Canada |
504 |
372 |
503 |
132 |
1 |
35.5% |
0.2% |
| United
States |
1,769 |
1,771 |
1,757 |
(2) |
12 |
-0.1% |
0.7% |
| World |
3,598 |
3,478 |
3,539 |
120 |
59 |
3.5% |
1.7% |
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.
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