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The Baker Hughes rig count for January 12, 2018 showed a total increase of 15 rigs exploring for oil and gas. Oil prices are also up, hovering around $64 for WTI. Photo: Ralph Kelley.

Rig count continues steady upward climb

While Canada lost 19 rigs this week, the U.S. Baker Hughes rig count continues its steady upward climb. With fourteen straight weeks of increase, it doesn’t seem as though it will stop anytime soon. This week’s total is up ten from last week. Of the 857 rigs, 688 are exploring for oil, while 167 are exploring for gas. Two rigs remain categorized as “miscellaneous.” The offshore total was down one from last week to 20, all in the Gulf of Mexico. No offshore rigs yet explore other waters, as the debate about drilling in the Atlantic heats up.

The most rigs were gained this week in Texas, which gained six. Alaska, Colorado, North Dakota, Pennsylvania, and Wyoming each gained one. Oklahoma was down one rig.

By basin, The Eagle Ford gained three rigs, accounting for the largest basin increase this week. The Permian, Barnett, DJ-Niobrara, Williston, Marcellus, and Granite Wash each gained one. The Cana Woodford Basin lost one in addition to the Gulf of Mexico.



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