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US total rig count climbs as gas-directed gains counter oil-directed losses

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US total rig count climbs as gas-directed gains counter oil-directed losses

The combined oil and natural gas rig count in the United States was higher during the week ended March 9, reaching 984, according to Baker Hughes's latest North America Rotary Rig Count.

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The total count sits 216 rigs above the corresponding week a year earlier.

Oil-directed rigs were down four on the week to 796, up 179 from the same week in 2017. Natural gas-directed rigs were up seven on the week to 188 and up 37 rigs on the year.

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The North American rig count was down 26 on the week and up 174 on the year to 1,257. Canadian rigs fell 29 on the week and were down 42 on the year to 273.

During the week ended March 9, U.S. land rigs were up four, at 967, which was up 224 from the corresponding year-ago period. Inland water rigs were unchanged on the week and down one on the year at four. Offshore rigs were down one on the week and down seven on the year at 13.

By trajectory, vertical rigs were up two on the week and were down seven on the year to 61. Directional rigs were steady on the week at 75, up 14 on the year. Horizontal rigs added one on the week to 848, which is 209 rigs better than the same week in 2017.

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