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Total US rig count rebounds by 35 with gains in oil, gas rigs

After falling for the first time in nine consecutive weeks during the period ended Jan. 13, the total U.S. rig count climbed by 35 to 694 during the week ended Jan. 20, according to data released from Baker Hughes Inc. The total rig count, which was up 57 on the year but down 1,337 rigs from the Sept. 12, 2008, peak of 2,031, reached its highest level since the week ended Dec. 31, 2015.

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Natural gas rigs increased six to a total of 142 during the week ended Jan. 20 and were up 15 from the same week in 2016. The total gas rig count came in below the record high of 1,464 reached in the week ended Sept. 12, 2008. Crude oil rigs advanced 29 on the week to a total of 551, which was up 41 rigs from the corresponding week a year earlier.

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The North American rig count jumped 62 on the week to a total of 1,036 and was up 149 from the same week in 2016. Canadian rigs increased 27 to a total of 342 and climbed 92 on the year.

During the week ended Jan. 20, U.S. land rigs jumped 36 to 670 and were up 63 from the same week in 2016. Inland water rigs were unchanged on the week and down one rig on the year at a total of zero. Offshore rigs dropped one on the week to 24 and were down five from the corresponding week in 2016.

By trajectory, vertical rigs rose 12 to a total of 75 but were down two from the same week a year earlier. During the week ended Jan. 20, directional rigs increased one to a total of 60 but were unchanged from the year-ago period. Horizontal rigs increased 22 to a total of 559 and were up 59 from the same week in 2016.

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