Rig Counts

Rig Counts

US Oil, Gas Rig Quarterly Growth Slowest in Two Years: Baker Hughes

In the third quarter, drillers added oil and gas rigs for an eighth quarter in a row but the addition of 12 rigs was the smallest increase since September 2020.

September 30, 2022

Rig Counts

US Drillers Add Oil Rigs for Second Consecutive Week: Baker Hughes

U.S. oil rigs rose three to 602 this week, while gas rigs fell two to 160. The total rig count fell in August and was on track to fall again in September after rising for a record 24 months in a row.

September 23, 2022

Rig Counts , Drilling

US Drillers Add Oil, Gas Rigs for First Time in Three Weeks

The biggest increase in rigs was in the Permian Basin in Texas and New Mexico, the biggest U.S. oil field, which rose by three to 343 this week, the most since August.

September 16, 2022

Rig Counts

US Oil, Gas Rig Count Falls to Lowest Since Late July: Baker Hughes

Oil services company Baker Hughes reported that the U.S. oil and gas rig count fell for the fifth straight week the week of Sept. 5, following recent forecasts of disappointing oil output gains from EOG Resources and Pioneer Resources executives.

September 9, 2022

Rig Counts , Legislation

Tax Incentives Driving Activity Offshore Norway

Westwood expects the Norwegian Petroleum Directorate to approve 25-30 plans for development and operation for offshore projects by the end of 2023.

September 8, 2022

Rig Counts , Drilling

Westwood: Onshore Rig Counts, Rates to Rise

Land drill rig day rates have increased in a number of regions due to an increase in drilling demand combined with higher commodity pricing. In the U.S., in particular, day rates have increase by 25% in 2022, according to Westwood’s latest analysis.

August 26, 2022

Rig Counts , Technology

US Oil, Gas Rig Count Falls for First Time in 25 Months: Baker Hughes

In August, the combined oil and gas count in the U.S. was down two rigs after rising for a record 24 months in a row, according to Baker Hughes in its closely followed report.

August 26, 2022

Rig Counts , Shale Plays

US Oil, Gas Rig Count Falls for Third Consecutive Week

The U.S. oil and gas rig count fell by one to 762 in the week to Aug. 19, Baker Hughes said. That was the first time drillers cut the rig count for three consecutive weeks since July 2020.

August 19, 2022

Rig Counts , Crude Oil

Oil Falls 2% on Expectations that US Gulf Supply Disruption Will Ease

OPEC and the International Energy Agency (IEA) conflicting oil demand views, with OPEC cutting its world oil demand forecast and the IEA raising its demand growth forecast.

August 12, 2022

Rig Counts

US Oil & Gas Rig Count Falls for Second Week in a Row: Baker Hughes

The week of Aug. 8, 2022 was the first time the U.S. oil and gas rig count fell for two consecutive weeks since August 2020.

August 12, 2022