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Total US rig count continues to climb, holding near 1-year highs

Another uptick in the number of crude oil and natural gas rigs worked to lift the total U.S. rig count during the week ended Dec. 9 to near one-year highs, according to data released Dec. 9 from Baker Hughes Inc.

The U.S. total rig count climbed 27 to a total of 624 and remained at its highest level since the week ended Jan. 22. The figure was down 85 from the same week in 2015 and 1,407 rigs below the Sept. 12, 2008, record high of 2,031.

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Natural gas rigs rose six on the week to a total of 125 but were down 60 from the corresponding week in 2015, putting the figure 1,481 rigs below the 1,606 high reached during the week ended Sept. 12, 2008. Crude oil rigs were up 21 to 498 but were down 26 from the same week the year prior, putting them 1,111 rigs below the peak of 1,609 set in the week ended October 10, 2014.

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The North American rig count was up 57 to a total of 854 but was down 29 from the prior year. Canadian rigs increased 30 to a total of 230, which was up 56 rigs above the same week a year earlier.

U.S. land rigs gained 27 to 601 but were down 83 from the same week in 2015. Inland water rigs was unchanged at one and were down one from the corresponding year ago period. Offshore rigs were steady on the week at 22 and were down one from the same week in 2015.

By trajectory, vertical rigs increased four to a total of 70 during the week ended Dec. 9 but decreased by 21 on the year. Directional rigs increased five to a total of 51 but slipped by 13 from the same week in 2015. Horizontal rigs jumped 18 on the week but were down 51 from the corresponding week the year before.

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