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Saturday, December 1, 2018

US rig count - 1076

The US drilling rig count is down 3 units to 1,076 rigs working for the week ended Nov. 30, according to Baker Hughes data. The count is up 147 units from the 929 rigs working this time a year ago.
At 1,051 rigs working, one less unit is drilling on land week-over-week. Offshore units are down by 2 to reach 23 rigs working, while those drilling in inland waters remain unchanged at 2 rigs working for the week.
US oil-directed rigs are up 2 units from last week to 887 units working, and up from the 749 rigs drilling for oil this week a year ago. Gas-directed rigs are down 5 units at 189, and up from the 180 units drilling for gas a year ago.
Among the major oil and gas-producing states, only four saw an increase in rigs week over week. Wyoming saw a 2-rig increase to 30, while Oklahoma, 145; Alaska, 6; and Utah, 5; each added a single unit.
Six states are unchanged this week: New Mexico, 108; North Dakota, 52; Pennsylvania, 46; Ohio, 16; California, 15; and Kansas, 0.
The largest decrease comes from Louisiana where a 4-unit drop brought the total number of rigs running to 65. West Virginia dropped 2 units to reach 11 rigs. With a one-rig decrease, Texas stands at 531 rigs working for the week, while Colorado’s single-rig drop brings the total to 33 rigs running.
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Related stocks: Keppel Corp, Sembcorp Marine & Cosco

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