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US rig count down 1 in week to March 15

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Essential Energy Insights - January 2021


US rig count down 1 in week to March 15

The combined oil and natural gas rig count in the U.S. slipped one to 1,026 in the week to March 15, according to the latest weekly North America Rotary Rig Count from Baker Hughes a GE company.

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The total count sits 36 rigs above the corresponding week a year earlier.

Oil-directed rigs were down one on the week to 833 rigs, or 33 rigs above the same week a year earlier, while gas-directed rigs were unchanged on the week and up four on the year at 193.

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The North American rig count was down 29 rigs on the week and down 22 from the corresponding week a year earlier at a total of 1,187 rigs, as Canadian rigs were down 28 on the week and were down 58 on the year to a total of 161 rigs.

During the week ended March 15, U.S. land rigs were down three to 1,001, which is 28 above the year-ago level. Inland-water rigs were up two on the week and down one on the year at a total of three. Offshore rigs were unchanged on the week, holding at 22 rigs, nine rigs above the level in the same week in 2018.

By trajectory, directional rigs were down two on the week and were down three on the year to a total of 65 rigs. Horizontal rigs were up three on the week and were up 42 on the year at 907 rigs, while vertical rigs were down two on the week at 54, which was three below the level during the same week in 2018.

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