Home / Energy / Rig count down 8, but still up 430 over last year
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The Baker Hughes rig count for September 15, 2017 showed a total decrease of 8 rigs. The total U.S. rig count is now 936. However, this total is still up 430 over last year at this time. Photo: Ralph Kelley.

Rig count down 8, but still up 430 over last year

The Baker Hughes rotary rig count hasn’t produced many smiles as of late, with a drop in in the total U.S. rig count for the past few weeks. Last Friday, September 15, showed a total decrease of 8 rigs exploring for oil and gas, bringing the current overall count in the U.S. to 936. The decrease included a loss of 8 rigs on land and 1 in inland waters. Offshore, one rig was added for a net loss of 8 rigs total.

Of those rigs exploring, the number indicates a loss of 7 rigs exploring for oil and one rig exploring for gas.

By state, West Virginia saw the only increase, adding one rig for a total of 16. Louisiana and Texas each lost 3. Colorado, New Mexico and North Dakota lost one rig each. The major basin variances are shown in the chart below.

Major Basin Variances This Week +/- Last Week +/- Year Ago
Ardmore Woodford 2 0 2 1 1
Arkoma Woodford 8 0 8 5 3
Barnett 7 0 7 6 1
Cana Woodford 64 -3 67 32 32
DJ-Niobrara 28 -1 29 12 16
Eagle Ford 71 -2 73 33 38
Granite Wash 15 0 15 6 9
Haynesville 46 0 46 33 13
Marcellus 47 1 46 18 29
Mississippian 4 0 4 2 2
Permian 380 -2 382 178 202
Utica 30 0 30 15 15
Williston 52 -1 53 25 27

 

While the rig counts overall show decreases in most areas, one thing to remember is that the number is still significantly higher than last year at this time. The Permian Basin, for example, has seen huge growth in the past year, up 202 rigs over last year.

Production, on the other hand, is still strong, indicating a still profitable environment. While production in the Bakken is still below the 2014 highs, it has continued to remain steady at over 1,000 barrels per day. Permian production continues to rise, and production there is predicted to rise by 55 barrels per day for oil, and 158 million cubic feet per day for natural gas. The September 2017 EIA Drilling Productivity Report showed a projected increase of oil production in the Bakken by 12 barrels per day. This emphasizes the efficiency of current drilling practices. Production continues remain steady despite the drop in rig count.

 

Photo Credit: U.S. Energy Information Administration, Sept 2017

Photo Credit: U.S. Energy Information Administration, Sept 2017

permian oil production

Permian Region Oil Production Forecast for October 2017. U.S. Energy Information Administration (EIA)

 

 

To read the EIA’s entire report, visit their website.

For the entire Baker Hughes rig count report from Friday September 15, 2017, click here.

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