The West Texas Intermediate crude price is trading at more than the $70-per-barrel mark, which is highly favorable for exploration and production activities. The number increased after declining for four consecutive weeks. Permian - the most prolific basin in the United States - recorded a weekly oil rig count of 336, higher than the prior week's 335. The count was higher than the prior-week number of 17. Gulf of Mexico (GoM) Rig Count Rises: GoM rig count was 18 units, all oil-directed. The horizontal/directional rig count (encompassing new drilling technology with the ability to drill and extract gas from dense rock formations, also known as shale formations) of 656 is lower than the prior-week level of 663. Rig Count by Type: The number of vertical drilling rigs totaled 18 units, lower than the prior-week count of 19. Per the latest report, the number of natural gas-directed rigs is 92.3% lower than the all-time high of 1,606 recorded in 2008. The count of rigs exploring the commodity is also below the prior-year week’s 153. Natural Gas Rig Count Declines: Natural gas rig count of 124 is lower than the prior-week figure of 130. The current number of oil rigs - far from the peak of 1,609 attained in October 2014 - is down from the year-ago figure of 595. Oil Rig Count Falls: Oil rig count was 545 in the week ended Jun 30, lower than the prior-week figure of 546.
In offshore resources, 19 rigs were operating, in line with the prior week’s count. Onshore rigs in the week ended Jun 30 totaled 653, lower than the prior week's count of 661.
The current national rig count is also lower than the year-ago level of 750. The figure decreased for nine straight weeks. The figure is lower than the prior week’s count of 682. Rig Count Falls: The count of rigs engaged in the exploration and production of oil and natural gas in the United States was 674 for the week ended Jun 30. The number of active rigs and comparison of the same with the prior-week figure indicates the demand trajectory for the company’s oilfield services from exploration and production companies. The rotary rig count, issued by BKR, is usually published in major newspapers and trade publications.īaker Hughes’ data, issued at the end of every week since 1944, helps energy service providers gauge the overall business environment of the oil and gas industry. rig count was lower than the prior-week figure.
#FREE COUNT DOWN FREE#
In its weekly release, Baker Hughes Company ( BKR Quick Quote BKR - Free Report) stated that the U.S.
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