Baker Hughes: Gas drilling drives North American rig count higher
Baker Hughes on May 7 reported that the North American rig count reached 503 for the reporting week, an improvement driven in large part by US gas work.
Its North American land rig count for the week ending May 7 was up 12 from the previous week. US upstream activity increased by eight. US oil drilling activity increased by two from the previous week, while natural gas drilling recorded a gain of seven. “Miscellaneous” rig work dropped by one to finish the week at one.
The Haynesville shale had the most upstream activity in natural gas during the reporting week, with the 48 rigs counted marking an increase of four from the previous week. The Permian and Eagle Ford basins also saw slight gains in natural gas work.
For oil, the rig count in the Permian basin improved by four, while there were two less in the Eagle Ford than the previous week.
Three quarters of US upstream activity is in oil.
Using data from Enverus, Baker Hughes reported the Canadian rig count increased by four to 55, with the gains split evenly between oil and natural gas.
Alberta, which hosts the vast majority of upstream activity, saw the rig count increase by three to 38, while the rig count in British Columbia declined by one to 11. Saskatchewan’s rig activity improved by two to five.
Baker Hughes does not split provincial data by oil and gas activity. Gas work accounted for 60% of the upstream activity in Canada during the reporting week.
There was one rig working offshore Canada, unchanged from the previous week. There were 13 rigs in service in the US waters of the Gulf of Mexico, unchanged from last week.