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Total US rig count rises by 1 but stays below year-ago level

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Total US rig count rises by 1 but stays below year-ago level

The combined oil and natural gas rig count in the U.S. rose by one to 984 rigs during the week to May 31 but is down 76 from the 1,060 rigs posted for the same week in 2018, according to the latest weekly North America Rotary Rig Count provided by Baker Hughes, a GE company.

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Oil-directed rigs added three on the week to 800 rigs but are down 61 rigs from a year ago. Gas-directed rigs shed two and totaled 184 rigs, 13 rigs lower from the same period in 2018.

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North American rigs, as a whole, rose by eight to 1,069 rigs during the week to May 31 but were 90 rigs lower than year-ago levels. Canadian rigs were up by seven for the week to 85 rigs. The count, however, is down 14 rigs from the corresponding week in 2018.

U.S. land rigs were unchanged at 957 rigs for the week but are 82 rigs lower from the corresponding week in 2018. Inland water rigs also saw little change at four rigs during the week ended May 31 but are two higher from a year ago. Offshore rigs were up by one to 23 rigs for the week and are four rigs higher from the prior-year count of 19 rigs.

By direction, horizontal rigs were down by one to a total of 862 rigs during the week ended May 31 and are 67 rigs lower from the same week in 2018. Vertical rigs added one during the week to 52 rigs but are 14 rigs lower than the corresponding week a year ago. Directional rigs added one to total 70 rigs for the period, five rigs higher from the prior-year level of 65 rigs.

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