Drilling activity in the U.S. has increased yet again, with Baker Hughes weekly rig count reporting seven additional rigs this week. The total number of rigs active in the U.S. is now 877, more than double the 415 rigs that were operating this time last year.
Oil-targeting rigs increased by six this week, totaling 703 rigs. Gas-targeting rigs added two to end the week with 173 active rigs. One “miscellaneous” rig came offline, leaving only one miscellaneous rig active in the U.S.
Four directional and horizontal rigs came online this week, while one vertical rig shut down. Drilling offshore increased, with one “inland waters” and two offshore rigs coming online this week.
Texas again saw the largest increase in rigs, with six added this week bringing its total to 443. Louisiana added four rigs, while Wyoming and Alaska each added two and Colorado and New Mexico each added one. Seven rigs shut down in Oklahoma, and North Dakota and West Virginia both had one rig go offline.
Rigs moved away from major basins, with only the Permian and the Haynesville adding rigs. Seven additional rigs in the Permian and one more in the Haynesville were offset by four shutdowns in the Cana Woodford, three Marcellus rigs coming offline, and one less in the Ardmore Woodford, Arkoma Woodford, Mississippian and Williston. Ten rigs moved to basins not individually tracked by Baker Hughes.
Canadian rigs continued to decrease, albeit at a slower pace than previous weeks. Three rigs shut down in Canada this week, leaving 82 active. Rigs in Canada have fallen by 77% from a high of 352 in February. This is the standard spring decrease, as seen every year. Historically, the spring drop usually begins to reverse in early May, so Canadian rigs may begin to recover soon.