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US total rig count extends higher with gains in gas, oil rigs

During the week ended April 7, the U.S. rig count advanced again, climbing by 15 to a total of 839, according to data released by Baker Hughes Inc. At its highest level since the week ended Sept. 18, 2015, the total U.S. rig count was up 396 from the same week in 2016.

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Crude oil rigs gained 10 on the week to a total of 672 and rose by 318 from the same week in 2016. Natural gas rigs increased five on the week to a total of 165 and were up 76 from the corresponding week the year prior.

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The North American rig count was down eight on the week to 971 but was still 487 rigs higher than the same week in 2016. Canadian rigs were down 23 to 132 but up 91 on the yearly period.

U.S. land rigs rose 15 to a total of 813 on the week and were up 399 on the year, while inland water rigs were unchanged on the week and the year at a total of four. Offshore rigs were also steady at a total of 22 but were down three from the same week in 2016.

By trajectory, vertical rigs climbed four to 73 and were up 23 on the year. During the week ended April 7, directional rigs edged up one to 71 and increased 19 from the corresponding year-ago period. Horizontal rigs advanced 10 to a total of 695 and were up 354 from the same week in 2016.

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