It was a good week for the oil and natural gas industry, as the number of working rigs increased by six in the United States and by seven in Canada, according to Baker Hughes.
That is the biggest increase in rigs working in North America in months, in the wake of the coronavirus pandemic, lower demand for commodities and lower prices, Kallanish Energy reports.
The biggest increase was three additional rigs in the Eagle Ford Shale in South Texas, said the Texas-based well services company in its Sept. 25 count.
The count jumped from nine to 12.
A year ago, there were 62 rigs at work in the Eagle Ford.
The rig count also jumped by two in the Permian Basin of West Texas and New Mexico. It went from 123 to 125.
A year ago, the Permian Basin had 414 working rigs.
It is the No. 1 O&G drilling region in the United States.
One additional rig was also reported in the Utica Shale in eastern Ohio.
The count went from five to six.
A year ago, the Utica Shale had 12 rigs working.
The number of working on-land rigs in the United States increased by six from 240 to 246 in the latest count.
The total U.S. rig count was 261, up from 255 on Sept. 18.
That includes 14 rigs in the Gulf of Mexico and one on inland waters.
A year ago, there were 860 rigs in the U.S.
The U.S. had 183 oil rigs, up four from the previous week, and 75 gas wells, up two from Sept. 18. There were also three miscellaneous wells, unchanged from the previous week.
A year ago, there were 713 oil rigs working and 146 natural gas rigs.
Canada reported 33 oil rigs, an increase of three from the previous week, and 38 gas wells, an increase of four from Sept. 18.
A year ago, Canada had 88 oil wells and 39 gas wells.
Rig counts are an indication of drilling activity and future wells.
The drop in rig counts started in March with small rebounds in recent weeks.
This post appeared first on Kallanish Energy News.