Topic: Marcellus Shale

U.S. Land Rigs Drop to 834

The BHI land rig count dropped -10 rigs (or -1.2%) to 834 rigs from last week's 844. The WTI crude oil price closed last week at about $60 per barrel. Oil-directed rigs dropped -12 rigs (or -1.9%) to 619 from last week's 631. Compared to this time last year, oil-directed rigs are down -58%.Summary of Shale PlaysPermian Basin -0.4% to 232 rigs, compared to last week’s 233 rigs Eagle Ford +2.8% to 110 rigs, from last week's 107 rigs Williston Basin -1.3% to...

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Less Volatility and +0.4% More Rigs This Week

The Baker Hughes (BHI) US land rig count improved this week by adding 3 rigs, bringing the count to 844 rigs from last week's 841 rigs (a 0.4% increase). For the week, -2 horizontal rigs were dropped while +4 vertical rigs and +1 directional rig were added. Fayetteville saw the most action, adding +2 rigs and bringing the count to 8 rigs from last week's 6 rigs. There was also activity in the miscellaneous category adding +6 rigs, half of which were horizontal and...

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11 Rigs Idled While E&Ps Talk Uncompleted Wells

After a fairly steady week for the commodity markets, the BHI land rig count dropped -11 rigs or -1.3% to 843 rigs from last weeks 854.The Eagle Ford felt the biggest impact this week dropping -5 rigs to 105 rigs from last week’s 510 rigs, all of which were horizontal. Cana Woodford continued to release rigs falling -3 rigs to bring the count to 35 from last weeks 38 rigs. The Permian dropped -2 gas rigs while adding just +1...

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+2.9% Increase in Gas Plays Rig Count

The BHI land rig count has slowed in the decline to only releasing -21 rigs or 2.3% compared to last week. Of the -21 rigs dropped, 20 are oil horizontal rigs. Gas plays have improved, increasing by 6 rigs compared to last week, with the addition of 2 rigs in the Haynesville play. Top losses originate from Texas, Oklahoma, and North Dakota, dropping 4.4% of their rigs compared to last week, all of which are oil rigs.Summary of PlaysPermian Basin...

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WTI Closes at $56 and Key Shale Production Declines

The Baker Hughes US Land Rig Count declined to 904 down -3.5% this week. WTI closed at $56.37 per barrel. Here's a summary chart for the week:Summary of Shale Play Rig CountsPermian Basin -2.3% to 258 rigs compared to last week’s 264 rigs Eagle Ford -1.6% to 123 rigs from last week at 125 rigs Williston Basin -5.6% to 84 from last week’s 89 rigs Marcellus -1.4% to 69 from last week's 70 rigs Mississippian -22.5% to 31 from last week's 40 rigs DJ-Niobrara stayed flat this week at 28 rigs Utica -7.1% to 26 rigs compared to...

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42 Rigs Released, US Land Rig Count Down -4.9%

The Baker Hughes US Land Rig Count declined to 937 down -4.3% this week. WTI ended this week at $51.64 per barrel. Here's a summary chart for the week:Summary of Shale Play Rig CountsPermian Basin -7.4% to 264 rigs compared to last week’s 285 rigs Eagle Ford -8.8% to 125 rigs from last week at 137 rigs Williston Basin -2.2% to 89 from last week’s 91 rigs Marcellus stayed flat this week at 70 rigs Mississippian stayed flat this week at 40 rigs DJ-Niobrara -6.7% to 28 rigs compared to 30 rigs last week Utica -3.4% to...

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Rig Count Trends for 2015

As the Baker Hughes (NYSE: BHI) rig count continues its downward trend from the end of 2014, we look forward to the activity in 2015. Many operators are continuing to prepare for the worst in 2015 and many are front-loading activity to the first quarter of 2015 and dropping rig counts lower as the year progresses if oil prices don’t improve. Eagle Ford According to the BHI historical rig count, activity has declined 32% from the start of 2015, bringing the count...

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-1.9% Land Rig Decline, Rigs Stabilizing?

The Baker Hughes US Land Rig Count declined to 979 down -1.9% this week. Only 19 rigs were released this week, and based on the last month of rig activity, the drop in rigs may be stabilizing. WTI ended this week at $49.90 per barrel. Here's a summary chart for the week:Summary of Shale Play Rig CountsPermian Basin -1.7% to 285 rigs compared to last week’s 290 rigs Eagle Ford stayed flat this week at 137 rigs Williston Basin -6.2% to 91 from last week’s 97 rigs Marcellus...

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