The trough in the U.S. land rig count had appeared to be approaching, but as prices continue to stagnate, assertions that the market already has touched bottom “could soon prove to be false,” Helmerich & Payne Inc. (H&P) CEO John Lindsay said last week.
Rigs
Articles from Rigs
U.S. Drops Two Rigs Overall as Oil-Focused Count Gains Five
In a bit of a twist from recent weekly rig count reports from Baker Hughes Inc., the latest tally shows that three U.S. rigs returned to the offshore while six left activity on land. Overall, the total U.S. count fell by two in the report issued Friday (July 31). However, Canada added 15 rigs for a net North America gain of 13.
July 31, 2015
Seven Gas Rigs Leave, But It’s Still Summer of Surplus
In these supply glut times, it would be nice if there were more gas-fired power plants burning more natural gas, but don’t blame power generators for the oversupply. Look to producers and the rig count.
July 31, 2015
Haynesville Adds Three Rigs as U.S. Count Jumps 19
On a percentage basis, the venerable dry gas grandaddy Haynesville Shale led the major plays in terms of rigs added during a week that saw the U.S. rig count increase by 19 units.
July 24, 2015
19 U.S. Rigs Return, But More Needed to Lift Driller Profits
An impressive 19 units returned to action in the United States in the latest weekly census of active drilling rigs by Baker Hughes Inc. Seventeen land-based rigs were back in action along with two that were plying the inland waters.
July 24, 2015
PTEN Still Not Calling Bottom, Sees More Rigs Falling
A handful of onshore operators are reactivating rigs but others are planning to drop equipment, “collectively leading to a flat rig count” through the rest of the year, Patterson-UTI Energy Inc.’s management team said Thursday.
July 23, 2015
U.S. Rigs in Retreat Again, But Canada Gains
U.S. drilling rigs were back on the retreat — declining by six — in the Baker Hughes Inc. rig count for the week ending July 17; however, Canada added 23 rigs to land the North American count at a net gain of 17.
July 17, 2015
Canada’s Rig Count Heats Up While U.S. Fizzles
During summertime, the rigs come out in Canada. The “frozen north” gained 23 active drilling rigs in the latest census from Baker Hughes Inc., released Friday. That increase was enough to bring North America to a net gain of 17 for the week ending July 17, despite a net decline of six rigs in the United States.
July 17, 2015
NGI The Weekly Gas Market Report
Vertical Rigs Stand Up For Count, Horizontals Lie Down
Vertical drilling rigs made a strong return to the oil/gas patch, climbing by 13, according to the latest data from Baker Hughes Inc. released Friday (July 10). It was enough to give the U.S. count of active rigs a tiny nudge up by one and continue a recent climb back from the count's June 19 level, which had set a multi-year low.
July 10, 2015
U.S. Rigs Post Net Gain of One; Permian-Focused, Vertical Units Lead
The Permian Basin was the big gainer among U.S. plays in the latest Baker Hughes Inc. rig count, released Friday (July 10). The basin added…
July 10, 2015
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