Active Rig Count Up
Posted: Mon Sep 15, 2014 3:59 pm
I believe the onshore drillers are going to report strong Q3 results. My top picks are PDS, PTEN, HP and UNT (primarily because of the liquids production growth of their E&P division). - Dan
The US drilling rig count increased 6 units to reach 1,931 rigs working during the week ended Sept. 12, Baker Hughes Inc. reported. The average US rig count for August totaled 1,904, up 28 from July and 123 from August 2013. During the week, the 6-unit gain was comprised of a 5-unit rise in land rigs to 1,852 and a 1-unit rise in offshore rigs to 66. Rigs drilling in inland waters held steady at 13. An 8-unit gain in oil rigs to 1,592 was cut into by a 2-unit decline in gas rigs to 338. One rig considered unclassified remains from a week ago. Light activity in the major oil- and gas-producing states was headlined by a 3-unit jump in Alaska, which now totals 10 rigs working. With a 2-unit gain each, North Dakota, New Mexico, and Kansas reported totals of 185, 98, and 25, respectively. Colorado, Pennsylvania, and Ohio each tallied a unit to respective totals of 75, 58, and 42. Unchanged from a week ago were Oklahoma at 213, Wyoming at 57, West Virginia at 29, Utah at 23, and Arkansas at 12. California subtracted a unit to 45. Texas and Louisiana each were down 2 units to 905 and 115, respectively. In the major US basins, the Permian gained 3 units to 566 and the Williston gained 2 units to 194.
The US drilling rig count increased 6 units to reach 1,931 rigs working during the week ended Sept. 12, Baker Hughes Inc. reported. The average US rig count for August totaled 1,904, up 28 from July and 123 from August 2013. During the week, the 6-unit gain was comprised of a 5-unit rise in land rigs to 1,852 and a 1-unit rise in offshore rigs to 66. Rigs drilling in inland waters held steady at 13. An 8-unit gain in oil rigs to 1,592 was cut into by a 2-unit decline in gas rigs to 338. One rig considered unclassified remains from a week ago. Light activity in the major oil- and gas-producing states was headlined by a 3-unit jump in Alaska, which now totals 10 rigs working. With a 2-unit gain each, North Dakota, New Mexico, and Kansas reported totals of 185, 98, and 25, respectively. Colorado, Pennsylvania, and Ohio each tallied a unit to respective totals of 75, 58, and 42. Unchanged from a week ago were Oklahoma at 213, Wyoming at 57, West Virginia at 29, Utah at 23, and Arkansas at 12. California subtracted a unit to 45. Texas and Louisiana each were down 2 units to 905 and 115, respectively. In the major US basins, the Permian gained 3 units to 566 and the Williston gained 2 units to 194.