Baker Hughes Rig Counts for today, March 7:
US Horizontal Oil Rigs rose +13 to a multi-year high of 945, up +117 from a year ago.
US Horizontal Gas Rigs rose +8 to 257, down 45 from a year ago.
Highlights:
Permian activity continued to spike, adding 14 oil rigs and losing 1 gas rig. The Permian is only up 30 rigs year-on-year, but that reflects a horizontal rig count increase of 87, and a loss of 60 vertical rigs, so the rig power has drastically increased.
Eagle Ford lost 6 oil rigs and gained 7 gas rigs, leading one to suspect a classification change rather than a true shift in drilling target:
Other basins were little changed. The Marcellus lost 1 rig, the Utica gained 1. See the rig count summary and basin charts for specifics. Canada is into breakup season where roads become impassable for a while, so those rig counts fell as expected in Alberta. But large rig count gains were recorded in British Columbia (+15) and Saskatchewan (+8).
PDF Reports:
Rig Count Summary
Rig Count by Basin
Rig Count by State
Canada Rig Counts
