North American Rotary
Rig Counts
The U.S.
rotary rig count from Baker Hughes was up 3 at
698 for the week of April 29, 2022. It is 258
rigs (58.6%) higher than
last year.
The
number of rotary rigs drilling for oil is up 3
to 552. There are 210 more rigs targeting oil
than last year. Rigs drilling for oil are
79.1 percent of all drilling activity.
Rigs
targeting natural gas were unchanged at 144.
The number of rigs drilling for gas is 48
higher than last year.
Unspecified
or miscellaneous rig count is unchanged at 2
and is the same as last year.
Year-over-year
oil
exploration in the U.S. is up 61.4 percent. Gas exploration
is up 50.0 percent. The weekly
average of crude oil spot price is 60.5 percent higher
than last year and natural
gas spot prices are 141.4 percent higher
than last year. See Oil
Futures Price Goes Negative.
Daily crude oil and
natural gas futures and spot prices are
available on our site.
Canadian rig
activity was down 6 at 95 for the week of
April 29, 2022 and is 44 (86.3%) higher
than last year. Rigs targeting oil
were down 3 to 45 and are 25 (125.0%)
higher than last year. Gas directed rig count
at 50 is down 3 for the week and is 19 (61.3%)
higher than last year.
Miscellaneous rig count was unchanged at 0.
Canadian drilling falls rapidly in the spring
to avoid environmental damage by moving
drilling equipment during the spring thaw and
rainy season. With large
weather related seasonal swings, even
year-over-year comparisons can lead to
incorrect conclusions. Also, Canadians seem to
take their holidays more serious than their
counterparts in the U.S. and rig count usually
drops near holidays.
North American Rig Count
|
Change
|
Percent Change |
|
04/29/2022 |
04/22/2022 |
04/30/2021 |
Weekly |
Annual |
Weekly |
Annual |
Total U.S. |
698 |
695 |
440 |
3 |
258 |
0.4% |
58.6% |
Offshore |
14 |
12 |
13 |
2 |
1 |
16.7% |
7.7% |
Land |
684 |
683 |
427 |
1 |
257 |
0.1% |
60.2% |
Inland
Waters |
0 |
0 |
1 |
0 |
(1) |
n.a. |
-100.0% |
Oil |
552 |
549 |
342 |
3 |
210 |
0.5% |
61.4% |
Percent |
79.1% |
79.0% |
77.7% |
0.1% |
1.4% |
|
|
Gas |
144 |
144 |
96 |
0 |
48 |
0.0% |
50.0% |
Percent |
20.6% |
20.7% |
21.8% |
-0.1% |
-1.2% |
|
|
Miscellaneous
|
2 |
2 |
2 |
0 |
0 |
|
|
Percent |
0.3% |
0.3% |
0.5% |
-0.0% |
-0.2% |
|
|
Directional |
30 |
31 |
23 |
-1 |
7 |
-3.2% |
30.4% |
Horizontal |
643 |
639 |
398 |
4 |
245 |
0.6% |
61.6% |
Vertical |
25 |
25 |
19 |
0 |
6 |
0.0% |
31.6% |
Gulf of Mexico |
13 |
12 |
13 |
1 |
0 |
8.3% |
0.0% |
Gulf Oil |
13 |
12 |
13 |
1 |
0 |
8.3% |
0.0% |
Percent |
100.0% |
100.0% |
100.0% |
0.0% |
0.0% |
|
|
Gulf Gas |
0 |
0 |
0 |
0 |
0 |
n.a. |
n.a. |
Percent |
0.0% |
0.0% |
0.0% |
0.0% |
0.0% |
|
|
Canada |
95 |
101 |
51 |
(6) |
44 |
-5.9% |
86.3% |
Oil |
45 |
48 |
20 |
(3) |
25 |
-6.3% |
125.0% |
Percent |
47.4% |
47.5% |
39.2% |
-0.2% |
8.2% |
|
|
Gas |
50 |
53 |
31 |
(3) |
19 |
-5.7% |
61.3% |
Percent |
52.6% |
52.5% |
60.8% |
0.2% |
-8.2% |
|
|
North America |
793 |
796 |
491 |
(3) |
302 |
-0.4% |
61.5% |
Prices
|
|
|
|
|
|
|
|
Oil $/bbl. |
$101.91 |
$103.76 |
$63.49 |
($1.86) |
$38.42 |
-1.8% |
60.5% |
Oil $/mmbtu |
$17.57 |
$17.89 |
$10.95 |
($0.32) |
$6.62 |
-1.8% |
60.5% |
Gas $/mmbtu |
$6.97 |
$7.08 |
$2.89 |
($0.12) |
$4.08 |
-1.6% |
141.4% |
Monthly: International
Rig Counts