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US total rig count climbs with crude and gas gains

The U.S. rig count continued to rise during the week ended March 31, climbing by 15 to a total of 824, according to data released by Baker Hughes Inc. At its highest level since the week ended Oct. 2, 2015, the total rig count was up 374 from the same week in 2016.

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Crude oil rigs increased 10 on the week to 662 and were up 300 from the corresponding year-ago period. Natural gas rigs climbed five to a total of 160 and were up 72 from the same week in 2016.

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The North American rig count tumbled 15 on the week to 979 but was still 480 higher than in the same week in 2016. Canadian rigs crashed 30 to 155 but were still up 106 on the yearly period.

U.S. land rigs rose 11 to 798 on the week and were up 378 on the year, while inland water rigs were unchanged during the week under review holding at four and were also unchanged from the same week a year ago. Offshore rigs were up four to a total of 22 and dropped four from the year-ago period.

By trajectory, vertical rigs tumbled nine to 69 and were up 14 from the same week in 2016. During the week ended March 31, directional rigs climbed 12 to 70 and jumped 21 from the same week in 2016. Horizontal rigs advanced 12 to a total of 685 and were up 339 from the same week in 2016.

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