Friday, March 14, 2014

Baker Hughes Rig Counts: Oil +18 Gas -1

Active oil rigs reached a new shale-era high this week, up 18 to 1,461.  Gas rigs were virtually flat (-1) at a low 344.

Horizontal rigs rose the most, at +8 Oil and +2 Gas.  Canadian rig counts fell across the board, as drilling was suspended during the spring thaw in many western Canadian locations.  But unlike the U.S., Canadian gas rigs have been showing more strength than oil rigs, with gas rigs counts up 57 on the year, vs oil rigs down 39.  

Activity continues to grow in the Permian (+8), which hit new rig count highs, and the Eagle Ford (+6 Oil, -4 Gas)

PDF Reports:

Rig Count Summary

Rig Count by Basin

Rig Count by State

Canada Rig Counts