The US rotary rig count increased by 1 to 1,483 for the week of April 30, 2010. This is 538 rigs (56.9 percent) higher than last year.
The number of rotary rigs drilling declined, and is now 513. However, there are 317 more rigs targeting oil than last year. Rigs currently drilling for oil represent 34.6 percent of all drilling activity.
Rigs directed toward natural gas increased by 2 and are now at 958. The number of rigs currently drilling for gas is 217 (29.3 percent) greater than last year's level of 741.
Year-over-year oil exploration in the US is up 161.7 percent. Gas exploration is up 29.3 percent. The weekly average of crude oil spot prices is 64.9 percent higher than last year and natural gas spot prices are 25.4 percent higher.
Canadian rig activity* was down 2 and was counted at 108 for the week of April 30, 2010. However, this is 41 (61.2 percemt) higher than last year's rig count. Canadian drilling falls rapidly in the spring to avoid environmental damage during the spring thaw and rainy season.
*The Canadian drilling industry experiences wide seasonal swings and even year over year comparisons can lead to incorrect conclusions.
North American Rig Count | Change | Percent Change | |||||
04/30/10 | 04/23/10 | 05/01/09 | Weekly | Annual | Weekly | Annual | |
Total U.S. | 1,483 | 1,482 | 945 | 1 | 538 | 0.1% | 56.9% |
Offshore | 52 | 53 | 51 | (1) | 1 | -1.9% | 2.0% |
Land | 1,431 | 1,429 | 894 | 2 | 537 | 0.1% | 60.1% |
Inland Waters | 14 | 14 | 5 | 0 | 9 | 0.0% | 180.0% |
Oil | 513 | 514 | 196 | (1) | 317 | -0.2% | 161.7% |
Percent | 34.6% | 34.7% | 20.7% | -0.1% | 13.9% | ||
Gas | 958 | 956 | 741 | 2 | 217 | 0.2% | 29.3% |
Percent | 64.6% | 64.5% | 78.4% | 0.1% | -13.8% | ||
Directional | 229 | 232 | 169 | -3 | 60 | -1.3% | 35.5% |
Horizontal | 765 | 753 | 385 | 12 | 380 | 1.6% | 98.7% |
Vertical | 489 | 497 | 391 | -8 | 98 | -1.6% | 25.1% |
Gulf of Mexico | 51 | 52 | 50 | -1 | 1 | -1.9% | 2.0% |
Gulf Oil | 28 | 29 | 4 | -1 | 24 | -3.4% | 600.0% |
Percent | 54.9% | 55.8% | 8.0% | -0.9% | 46.9% | ||
Gulf Gas | 23 | 23 | 46 | 0 | -23 | 0.0% | -50.0% |
Percent | 45.1% | 44.2% | 92.0% | 0.9% | -46.9% | ||
108 | 110 | 67 | (2) | 41 | -1.8% | 61.2% | |
Oil | 39 | 31 | 18 | 8 | 21 | 25.8% | 116.7% |
Percent | 36.1% | 28.2% | 26.9% | 7.9% | 9.2% | ||
Gas | 69 | 79 | 49 | (10) | 20 | -12.7% | 40.8% |
Percent | 63.9% | 71.8% | 73.1% | -7.9% | -9.2% | ||
1,591 | 1,592 | 1,012 | (1) | 579 | -0.1% | 57.2% | |