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Jump in oil rigs boosts total US rig count again

During the week ended June 2, the total U.S. rig count increased again, rising by eight to a total of 916, holding at the highest level since the week ended April 24, 2015, according to Baker Hughes Inc.'s latest North America Rotary Rig Count issued June 2.

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U.S. oil-directed rigs increased 11 to a total of 733 and were up 408 from the corresponding week a year before. Natural gas-directed rigs eased three on the week but gained 100 on the year to a total of 182.

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The North American rig count was up 14 on the week to a total of 1,015, which is up 556 from the same week in 2016. During the week ended June 2, Canadian rigs rose six to a total of 99 and climbed 58 from the corresponding week in 2016.

U.S. land rigs climbed eight on the week and 507 on the year to a total of 889. Inland water rigs were unchanged on the week at a total of four but down one from the same week in 2016. Offshore rigs were steady as well on the week at 23, which is up two from the corresponding year-ago period.

By trajectory, vertical rigs were unchanged at a total of 77 and were up 32 from the same week in 2016. Directional rigs increased three on the week and 24 on the year to a total of 68. Horizontal rigs rose five to a total of 771, which is up 452 on the year.

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