Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

Shallow Vertical Wells Get Lift in October; Overall U.S. Rig Count Remains Flat Versus September

Eyes on Colorado's Proposition 112 in November 6 Midterm Elections
HOUSTON (November 5, 2018) S&P Global Platts Analytics, today announced the total U.S. rig count for Oct 2018 was 1,174, down 1 (0%) from September 2018, and up 126 (+12%) from October 2017. This rig count includes U.S. onshore, U.S. inland waters, and U.S. offshore Gulf of Mexico drilling rigs.
October U.S. land rig count: 1,144, down 2 (0%) from the previous month and up 124 (+12%) from October 2017
October U.S. inland waters and Gulf of Mexico rig count: , up 1 (+3%) from the previous month and up 2 (+7%) from October 2017
"While month-over-month rig count performance is basically flat, it's worth taking a look under the hood, where we see an increase in rigs for drilling conventional, shallow natural gas wells, evidence that smaller-scale natural gas producers were taking advantage of the visibly stronger natural gas prices,” said S&P Global Platts Analytics Senior Industry Analyst Trey Cowan.
Natural gas prices, according to the spot, physical market price of Henry Hub, as assessed by S&P Global Platts, showed a rise of 8% during October.
"Colorado could hold the most volatility in the months ahead,” said Cowan. "If Proposition 112* is approved at the U.S. November 6 Midterm Elections, we could see a rush to get wells drilled before permits expire and then a precipitous fall in drilling for the state."
S&P Global Platts U.S. Rig Counts
Oct-18 Sep-18 Month over Month Change % Change Oct-17 Variance Year over Year (YOY) YOY % Variance
Colorado 35 37 -2 -5% 40 -5 -13%
Louisiana 53 49 4 8% 51 2 4%
New Mexico 89 98 -9 -9% 67 22 33%
North Dakota 60 60 0 0% 52 8 15%
Oklahoma 157 155 2 1% 134 23 17%
Texas 561 563 -2 0% 489 72 15%
Rest of U.S. Land 189 184 5 3% 187 2 1%
U.S. Land Subtotal 1,144 1,146 -2 0% 1,020 124 12%
U.S. Inland Waters 3 2 1 50% 6 -3 -50%
U.S. Gulf of Mexico 27 27 0 0% 22 5 23%
U.S. Inland and Gulf of Mexico 30 29 1 3% 28 2 7%
Total U.S. Rig Count 1,174 1,175 -1 0% 1,048 126 12%
*Colorado's Proposition 112 would require that any new oil and gas development be located at least 2500 feet from any structure intended for human occupancy

S&P Global Platts Media Contact update

Americas: Kathleen Tanzy, +1 917 331 4607,
Asia: Melissa Tan, +65-6597-6241,
EMEA: Alex Brog, +44 20 7176 7645, and Russ Gerry, +44 207 176 3569,

About S&P Global Platts

At S&P Global Platts, we provide the insights; you make better informed trading and business decisions with confidence. We're the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture and shipping.

S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit

Register Now

Register here to receive S&P Global Platts press releases by Email