The newest United States rig count was the type that oil and gas operators have been dreaming about since March after months of declining rig counts, Kallanish Energy reports.
The count actually increased by 13: from 254 to 267 on land.
There are also one inland waters rig and 14 Gulf of Mexico rigs, according to the Oct. 16 count by Baker Hughes.
Texas gained seven rigs. Utah’s rig count grew by three, Oklahoma’s and Wyoming’s by two and West Virginia and North Dakota by one.
Louisiana lost two rigs and Colorado lost one rig.
The U.S. total was 282 rigs, up from 269 on Oct. 9, the Texas-based wells services company reported.
A year ago, the U.S. had 851 rigs.
The U.S. oil rig count increased by 12 from 193 to 205. The natural gas rig count grew by one from 73 to 74.
A year ago, there were 713 oil rigs and 137 natural gas rigs.
Canada had 80 rigs at work in the new count.
That is unchanged from last week’s count by Baker Hughes.
There were 40 oil rigs, up one from the previous week, and 40 gas rigs, down one from the previous week.
A year ago, Canada had 98 oil rigs and 45 gas rigs.
Rig counts are an indication of drilling activity and future wells.
The drop in rig counts started in March with the spread of the coronavirus and resulting low demand and low prices with small rebounds in recent weeks.
This post appeared first on Kallanish Energy News.