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US total rig count climbs in week to March 16

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US total rig count climbs in week to March 16

The combined oil and natural gas rig count in the U.S. was higher during the week ended March 16, reaching 990, according to Baker Hughes Inc.'s latest North America Rotary Rig Count.

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The total count sits 201 rigs above the corresponding week a year earlier.

Oil-directed rigs were up four on the week to 800, which was up 169 from the same week in 2017. Natural gas-directed rigs were up one on the week to 189 and were up 32 rigs on the year.

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The North American rig count was down 48 on the week and is up 144 on the year to 1,209. Canadian rigs fell by 54 on the week and were down 57 on the year to 219.

During the week ended March 16, U.S. land rigs were up six, to 973, which was up 208 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 also steady on the week and down six on the year at 13.

By trajectory, vertical rigs were down four on the week and were down 13 on the year to 57. Directional rigs were down seven on the week at 68, which was up seven on the year. Horizontal rigs added 17 on the week at 865 and were 207 rigs better than the same week in 2017.

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