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Total US rig count steadies as drop in oil count offsets increase in gas rigs

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Total US rig count steadies as drop in oil count offsets increase in gas rigs

The combined oil and natural gas rig count in the U.S. was steady at 1,075 rigs in the week to Jan. 11, according to the latest North American Rotary Rig Count from Baker Hughes a GE company.

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The total count sits 136 rigs above the corresponding week a year earlier.

Oil-directed rigs fell four in the week to 873 rigs, or 121 rigs more than in the corresponding week in 2018, while gas-directed rigs were up four in the week and were up 15 on the year at 202.

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The North American rig count was up 108 in the week and was up 44 on the year to a total of 1,259 rigs, as Canadian rigs were up 108 in the week and were down 92 on the year to a total of 184 rigs.

During the week ended Jan. 11, U.S. land rigs were up two to 1,052, which is 133 above the year-ago level. Inland-water rigs were down one on the week at two rigs, up one from the year-ago period. Offshore rigs were down one on the week and were up two on the year at a total of 21 rigs.

By trajectory, directional rigs were down by four rigs in the week and were down 10 rigs on the year to a total of 62 rigs. Horizontal rigs were up three on the week and were up 143 on the year at 948 rigs, while vertical rigs were up one on the week at 65, which was three higher than the same week in 2018.

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