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Total US rig count drops 4 with oil, gas rigs down 2 each

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Essential Energy Insights - September 17, 2020

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Total US rig count drops 4 with oil, gas rigs down 2 each

Reversing the prior week's increase, the combined U.S. oil and natural gas rig count decreased four rigs during the week ended Oct. 6, according to Baker Hughes Inc's latest North America Rotary Rig Count.

The total U.S. rig count reached 936, still 412 rigs above the prior-year level.

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Oil-directed rigs were down two on the week and up 320 on the year at a total of 748. Natural gas-directed rigs also eased by two on the week to a total of 187, or 93 rigs above the year prior.

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The North American rig count decreased eight on the week to a total of 1,145, which is 456 above the total reported during the same week in 2016. Canadian rigs slid four to a total of 209, which is up 44 from the same week in 2016.

U.S. land rigs were down three on the week at a total of 913 but were up 413 from the corresponding year-ago period. Inland water rigs slipped one on the week at a total of one and remained even with the same week last year. Offshore rigs were unchanged at a total of 22, which is one rig lower than in the same week in 2016.

By trajectory, vertical rigs added one to a total of 65 and were up four from the year prior. Directional rigs decreased three to a total of 79, which is up 29 from the same week in 2016. Horizontal rigs eased by two on the week at 792, which is up 379 from the same week in 2016.

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