Daily GPI / NGI The Weekly Gas Market Report / Production / U.S. Rig Count Summary / Canadian Rig Count Summary

U.S. NatGas Rigs Return, But Oil Still Favored

Six natural gas rigs returned to U.S. activity during the week just passed, and 14 oil rigs joined the hunt, according to Baker Hughes Inc. Meanwhile, Canadian rigs are getting out of the patch for spring breakup.

In Oklahoma, three rigs each came back to the Arkoma Woodford and to the Mississippian, and one returned to the Granite Wash. Elsewhere, four rigs were added in the Williston Basin (North Dakota was up five), and the Eagle Ford picked up two. The Permian Basin, usually a gainer, dropped one rig during the most recent week.

The U.S. land count rose by 22 units during the week, offset in part by one offshore departure, for a U.S. gain of 21 to 789 rigs active (765 on land). Fourteen U.S. oil rigs came back, accompanied by six natural gas rigs and one “miscellaneous” unit. Nineteen horizontal units came back, as did two vertical rigs.

Canada dropped 31 oil rigs and 10 gas rigs but added two “miscellaneous units” for an overall decline of 39. Spring breakup season is clearly under way as rigs get out of town before the thaw.

Alberta’s count dropped by 13% to 190, while British Columbia was off by 3% to 31 and Saskatchewan was down by 17% to 49 active rigs. Canada ended the week with 276 rigs running, 12% fewer than the previous week.

Copyright ©2018 Natural Gas Intelligence - All Rights Reserved.
ISSN © 1532-1231 | ISSN © 1532-1266

Recent Articles by Joe Fisher

Comments powered by Disqus