North
American Rotary Rig Counts
The U.S.
rotary rig count from Baker Hughes was up 5 at 1,013 for the week
of April 20, 2018.
It
is 156 rigs (18.2%) higher
than last year.
The
number of rotary rigs
drilling for oil was up 5 at 820. There are 132 more rigs
targeting
oil than last year. Rigs drilling
for oil are 80.9 percent of all drilling activity.
Rigs
targeting natural
gas were unchanged at 192. The number of rigs drilling
for
gas is 25 higher than last year's level of 167.
Year-over-year
oil exploration
in the U.S. is up 19.2 percent. Gas exploration is up 15.0 percent.
The
weekly
average of crude oil spot price
is 31.6 percent higher
last
year
and natural gas spot prices are 8.8 percent lower than last year. Daily
crude oil and natural gas futures and spot prices
are available on
our site.
Canadian
rig activity was down 9 at 93 for the week of April 20, 2018 and is 6 (6.1%) lower than last year. Rigs targeting oil
were down 3 at 38 and are 5 (15.2%) higher than last year. Gas
directed rig count
at 55 was down 6
and is 11 rigs (16.7%)
lower 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 large weather related seasonal
swings, even
year-over-year
comparisons
can lead to incorrect conclusions. Also, Canadians take their holidays
more serious than their counterparts in the U.S.
North American Rig
Count
|
Change
|
Percent Change |
|
04/20/2018 |
04/13/2018 |
04/21/2017 |
Weekly |
Annual |
Weekly |
Annual |
Total U.S. |
1,013 |
1,008 |
857 |
5 |
156 |
0.5% |
18.2% |
Offshore |
18 |
16 |
20 |
2 |
(2) |
12.5% |
-10.0% |
Land |
995 |
992 |
837 |
3 |
158 |
0.3% |
18.9% |
Inland Waters |
4 |
4 |
3 |
0 |
1 |
0.0% |
33.3% |
Oil |
820 |
815 |
688 |
5 |
132 |
0.6% |
19.2% |
Percent |
80.9% |
80.9% |
80.3% |
0.1% |
0.7% |
|
|
Gas |
192 |
192 |
167 |
0 |
25 |
0.0% |
15.0% |
Percent |
19.0% |
19.0% |
19.5% |
-0.1% |
-0.5% |
|
|
Directional |
70 |
70 |
60 |
0 |
10 |
0.0% |
16.7% |
Horizontal |
889 |
883 |
718 |
6 |
171 |
0.7% |
23.8% |
Vertical |
54 |
55 |
79 |
-1 |
-25 |
-1.8% |
-31.6% |
Gulf of Mexico |
18 |
16 |
20 |
2 |
-2 |
12.5% |
-10.0% |
Gulf Oil |
17 |
15 |
18 |
2 |
-1 |
13.3% |
-5.6% |
Percent |
94.4% |
93.8% |
90.0% |
0.7% |
4.4% |
|
|
Gulf Gas |
1 |
1 |
2 |
0 |
-1 |
0.0% |
-50.0% |
Percent |
5.6% |
6.3% |
10.0% |
-0.7% |
-4.4% |
|
|
Canada |
93 |
102 |
99 |
(9) |
(6) |
-8.8% |
-6.1% |
Oil |
38 |
41 |
33 |
(3) |
5 |
-7.3% |
15.2% |
Percent |
40.9% |
40.2% |
33.3% |
0.7% |
7.5% |
|
|
Gas |
55 |
61 |
66 |
(6) |
(11) |
-9.8% |
-16.7% |
Percent |
59.1% |
59.8% |
66.7% |
-0.7% |
-7.5% |
|
|
North America |
1,106 |
1,110 |
956 |
(4) |
150 |
-0.4% |
15.7% |
Prices |
|
|
|
|
|
|
|
Oil $/bbl. |
$67.36 |
$66.03 |
$51.18 |
$1.33 |
$16.18 |
2.0% |
31.6% |
Oil $/mmbtu |
$11.61 |
$11.38 |
$8.82 |
$0.23 |
$2.79 |
2.0% |
31.6% |
Gas $/mmbtu |
$2.82 |
$2.71 |
$3.09 |
$0.10 |
($0.27) |
3.7% |
-8.8% |
Monthly:
International Rig Counts