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Rigs Return in Canada, Hold Steady in U.S.

U.S. drilling rigs paused in their return to the patch, with only one unit coming back to service in the inland waters and no returns in the offshore or land categories.

Three U.S. oil rigs returned to action, but two gas-directed rigs left. Four directional units returned, offset by the departure of three horizontals. With the U.S. count only up by one to 463 (440 on land), it was left to Canada to bring the excitement to the latest count of active drilling rigs by Baker Hughes Inc., which was released Friday (July 29).

With spring breakup season in the rearview mirror, Canada added 17 rigs to end the week at 119 running. Alberta gained 12 rigs to end at 79. British Columbia added three units to make 13 running. Saskatchewan lost a rig to end at 21. And Manitoba gained three units, up from zero.

North America ended the week with 582 actives. Twelve Canadian oil rigs came back, joined by five gas-directed units.

Back in the U.S., the Railroad Commission of Texas (RRC) announced preliminary state production figures for May, which will be updated and almost certainly will increase from the early numbers reported.

Texas production for May as reported to the RRC was 73.13 million bbl of crude oil and 600.70 Bcf of total gas from oil and gas wells. Production reported for the same time period last year was 75.31 million bbl of crude oil preliminarily, updated to a current figure of 91.64 million bbl; and 639.10 Bcf of total gas preliminarily, updated to a current figure of 748.02 Bcf.

In the last 12 months, total Texas reported production was 1.01 billion bbl of crude oil and 8.30 Tcf of total gas. Crude oil production is limited to oil produced from oil leases and does not include condensate, which is reported separately. Texas production in May 2016 came from 185,190 oil wells and 93,622 gas wells.

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