Topic: Rig Count

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

By Todd Bush Apr 12, 2015 3:17 PMDrilling Activity

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...

Rig Count Trends for 2015

By Todd Bush Apr 08, 2015 11:05 PMInsights

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...

-1.9% Land Rig Decline, Rigs Stabilizing?

By Todd Bush Apr 05, 2015 8:58 AMDrilling Activity

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...

US Crude Inventories Rise, Land Rigs Decline

By Todd Bush Mar 22, 2015 9:24 PMDrilling Activity

The Baker Hughes US Land Rig Count declined to 1,015 down -4.3% this week. WTI fluctuated this week ending around $46 per barrel. Here's a summary chart for the week:Summary of Shale Play Rig CountsPermian Basin -6.1% to 292 rigs compared to last week’s 311 rigs Eagle Ford -5.5% to 138 rigs compared to 146 the prior week Williston Basin -4.8% to 99 from last week’s 104 rigs Marcellus +9.5% to 69 from the previous week's 63 rigs Mississippian +4.8% to 44 rigs from last week's 42 rigs DJ-Niobrara 3.1%...

Land Rigs down to 800 by Summer?

By Todd Bush Mar 15, 2015 10:29 PMDrilling Activity

The Baker Hughes US Land Rig Count declined to 1,058 down -5.6% this week. WTI fluctuated today hovering around $45 per barrel. Here's a summary chart for the past week:Summary of Shale Play Rig CountsPermian Basin -6.6% to 311 rigs compared to last week’s 333 rigs Eagle Ford -2.0% to 146 rigs compared to 149 the prior week Williston Basin -3.7% to 104 from last week’s 108 rigs Marcellus +1.6% to 63 from the previous week's 62 rigs Mississippian -4.5% to 42 from last week's 44 rigs DJ-Niobrara -5.9% to 32...

Rig Count Declines -3.8% along with Oilfield Businesses

By Todd Bush Feb 27, 2015 4:56 PMDrilling Activity

The Baker Hughes US Land Rig Count declined to 1196, down -3.8% this week. WTI fluctuated this week and ended just below $50 per barrel. Here's a summary chart for the week:Summary of Shale Play Rig CountsPermian Basin -1.9% to 355 rigs compared to last week’s 362 rigs Eagle Ford -1.9% losing -3 rigs to 157 rigs compared to 160 the prior week Williston Basin -12 rigs to 111, down -9.8% compared to last week’s 123 rigs Mississippian -2.1% bringing the count down to 47 active...

Rig Counts down -26% since Start of 2015

By Todd Bush Feb 16, 2015 8:54 PMDrilling Activity

The Baker Hughes US Rig Count for land rigs remains in a downturn, dropping 7.1% this week to 1288 rigs compared to last week. The rig counts are down -25.76% from the start of 2015 when the count was at 1735 rigs.Texas has felt the biggest hit, decreasing their count by -56 rigs or -8.6% this week, dropping over half of the rigs for this week. The largest changes happened in the Permian Basin and the Barnett Shale, which lost...

Embracing a Changing Upstream Market, US Land Rigs down -85

By Todd Bush Feb 06, 2015 4:35 PMDrilling Activity

The Baker Hughes US Rig Count for land rigs continued to drop to 1387 rigs, down -5.8% or -85 rigs compared to last week, with 80 of the 85 rigs being horizontal. WTI oil prices ended the week higher than last, settling at $51.78. Bloomberg market reports point to the shale bust beginning now as companies cut budgets, layoff employees, and begin asking service companies for price reductions. The changing market conditions will force many companies out. US Land Rigs Down -5.8%A...