Units

Ten U.S. land-based drilling rigs returned to action during the week just ended, according to Baker Hughes Inc. (BHI). The week ended with 823 rigs active on land, more than twice the 409 that were running one year ago.

One-dozen rigs returned to the Permian Basin during the week just ended, according to Baker Hughes Inc. (BHI), and that propelled Texas to an overall gain of seven units during the week. But the good news for the energy patch isn’t confined to the Permian or to Texas.

More rigs came back during the week just ended, natgas-directed units, too, according to Baker Hughes Inc. (BHI). Meanwhile, analysts are looking to new natural gas takeaway capacity and production growth, particularly in the Northeast.

Fourteen U.S. land-based rigs returned to play during the week ending Sept. 2, according to Baker Hughes Inc. (BHI). Gains were tempered, though, by the departure of seven offshore rigs, offset by one returning to the inland waters.

This is likely to be the first year since the dawn of the shale era that doesn’t show year-over-year natural gas production growth, Societe Generale analyst Breanne Dougherty said in note late last month.

Offshore driller Seadrill Management Ltd. during the second quarter continued to pare costs and defer delivery of newbuild rigs as much as possible. The company said it has disputed a recent contract termination by Petroleos Mexicanos (Pemex) for the West Pegasus rig and is reviewing its legal options.

A few more U.S. land-based rigs trickled back to the energy patch during the week ending Aug. 5, according to Baker Hughes Inc. The gain of three rigs on land was tempered by the loss of two in the offshore for a net U.S. gain of one unit. Oil rigs ascended, while natural gas-focused units declined.

More U.S. land-based drilling rigs returned to play in the Baker Hughes Inc. (BHI) rig count released Friday, but the pace of return slowed from the previous week. The Permian Basin turned in another strong showing.

In its survey for the week ending May 13, Baker Hughes Inc. said nine rigs left U.S. play (six from land, one from the inland waters and two from the offshore). That compares with the preceding week when only five U.S. units departed (see Daily GPI, May 6).