A decline in the rig count through the second half of 2024 appears inevitable based on recent oil prices but an undersupplied market could drive prices and drilling activity sharply higher in 2024 analysts at Raymond
Baker Hughes BHGE % reported that the number of active rigs drilling for oil rose by 1 to 863 this week That modest rise marks a fourth straight weekly climb
Also in the interest of improving visitor understanding of the US shale industry we have imbedded live links in the form of blue half spheres which allow access to historical rig count charts current drilling activity maps and oil and gas production charts for different US shale areas To call up this additional information click on the
WTI oil prices have been hovering around $47/b recently and we are starting to see some hesitation on the part of the US producer evidenced in rig counts
The Railroad Commission of Texas About Us Monthly Drilling Well Counts by Type and Status Oil and Gas Lease Name Index
At $90 oil Bakken purple rig counts trailed only the Midland Basin light green and the Eagleford pink but when prices hit their lowest points the cutback in Bakken drilling far outpaced the reduction in the Midland Basin or Eagleford plays
US rig count at 476 is lowest in 67 years of record keeping Baker Hughes Read this Platts oil news article here Plus discover more oil
The active rig count continued its slow but steady climb last week while the price of oil fell more than $2 throughout the week Friday s combined oil and gas rig count — provided by oilfield services provider Baker Hughes — increased by three for a second straight week to a mark of 981
Increase in US rig count will not cap oil prices has been the weekly US oil rig count published by Baker Hughes to add more drilling rigs just to
oil drilling rig count holds steady this week Baker Hughes oil drilling rig count holds steady this week Baker Hughes The United States
The US total rig count has dropped from last week s 944 rigs to 936 according to the Baker Hughes weekly rig count Onshore the active rigs fell from 923 to 915 while offshore grew by one Last year there were 506 rigs drilling in the US Of those 482 were on land and 20 were offshore
There are now fewer drilling rigs in Pennsylvania than before the Marcellus Shale oil and gas boom It s an economic reality of an energy sector facing the worst downturn in decades Across the rig count continues to dwindle and this month reached it s lowest level of the century falling to
Layne estimate that the are currently 58 oil and gas drilling rigs within 3 miles of the 88 000 acres which is about 15 percent of the drilling rigs active in the Permian Basin These current drilling levels alone would need about 500 million barrels of water per year for just fracking operations The General Land Office of Texas oversees more
· Big Drop In Rig Count Points To Capitulation By oil weighted exploration and weekly basis of future drilling and production Rig count reflects
Baker Hughes has issued the rotary rig counts as a service to the petroleum industry since 1944 when Hughes Tool Company began weekly counts of and Canadian drilling activity Hughes initiated the monthly international rig count in 1975 The North American rig count is released weekly at noon
The Nogtec Rig Count presents the number of rigs working in each country drilling on land or offshore and drilling for oil natural gas or for other purposes
Is The Rig Count Still Relevant By Irina Slav 6 00 PM CST The weekly rig count report that Baker Hughes releases is probably on everyone s not to miss schedule However its days as one of the most reliable oil industry growth metrics seem to be numbered the shale industry has advanced beyond rigs
Offshore Magazine s coverage of oil rigs vessels and oil platforms in US Gulf of Mexico
Halliburton Company The Rig Count Isn t What Matters to Us Anymore There has been a lot of focus on the rig count decline but Halliburton Company says another number is more important these days at 12 22PM Source Kool Cats Photography via Flickr After falling for months and months the rig count
The number of oil and gas rigs drilling in the U Raw rig counts are more than twice as many rigs were actively drilling Sources Data compiled by Bloomberg
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Rig counts in Canada have been a story of diverging movements between oil and gas rigs Oil rig count has been increasing at a slow pace while gas rig count continued to slide further reinforcing our view that liquids rich areas are growing at the expense of dry gas properties We continue to believe that the overall Canadian rig count will
The number of rigs drilling for oil in the rose by 19 in the past week to 471 according to oil field services company Baker Hughes Inc The oil rig count is typically viewed as a proxy for activity in the sector After peaking at 1 609 in October 2024 low oil prices put downward pressure
Update February 2024 Update March 2024 Update September 2024 EIA Estimates of Drilled but Uncompleted Wells DUCs
For the third week in a row the US oil rig count rose dramatically up 15 to 583 the highest since October 2024 This is the biggest 3 week surge in rig counts since April 2013but so far no jobs are showing up in the oil patch
That rig count peaked in July 2024 at 1 382 rigs and in February stood at 1 018 down 364 rigs from the peak Click to enlarge The Baker Hughes total world rig count does include US and Canada but not the FSU or inland China That total oil gas rig count stood at 1761 in February down 52 percent since December of 2024
The Permian Basin rig count continued to climb this week after gaining five rigs for a basinwide total of 463 according to Baker Hughes All rigs in the nation s most active play are searching for oil and account for more than half of all oil exploration activity across the nation Of the nation
The US oil rig count has risen for 32 consecutive weeks and US oil production has stopped falling Production from the North Sea and Asia are in decline as the past low price and drive to restore profitability works through the system
Despite a prolonged slump in oil prices oil drilling activity is more Overall and Louisiana rig counts up from 2024 but onshore south Louisiana lags
The number of rigs drilling for oil and natural gas in the United States has fallen to the lowest level since at least 1940 oil services company Baker Hughes Inc said on Friday as energy firms continued to slash activity amid the
Figure 5 Total US rig count by basin Pre crash there were almost 2024 operational rigs The post crash low in US oil focussed drilling was 330 rigs on 24 June 2024 The low in gas was 83 rigs reached on 19 August 2024 total = 413
The Bakken Shale Rig Count is an index of the total number of oil gas drilling rigs running across Montana and North Dakota The rigs referred to in this article are for ALL drilling reported by Baker Hughes and not solely wells targeting the Bakken formation All land rigs and onshore rig data shown here are based upon industry estimates