According to the latest Baker Hughes North American Rotary Rig Count data in the week ended January 5, 2018, the North American rig count is up 33 rigs bolstered by a half-sized rebound in the Canadian count. The Canadian count is up 38 rigs (36 oil and 2 gas) from last week’s seasonal weather-related plunge to 174 and is down 31 rigs year-over-year. The number of land rigs drilling for oil in the US totaled 742, down five week-on-week and up by 213 compared with 529 a year ago. The natural gas rig count remained unchanged at 182 week-on-week. The count for natural gas rigs is now up by 47 year over year. There are a total of 924 working rigs in the country, down by five week over week and up by 259 year over year.
Among the US states, Baker Hughes reported two additional rigs in Wyoming and one each in New Mexico and Texas while Louisiana lost six rigs this week, Oklahoma lost two, and North Dakota lost one.
In the Permian Basin of west Texas and southeastern New Mexico, the rig is 400, two more compared with the previous week’s count. The Eagle Ford Basin in south Texas has 70 rigs in operation, unchanged week-on-week, and the Williston Basin (Bakken) in North Dakota and Montana now has 46 working rigs, a loss of one week-on-week.