Over the past month, oil prices have been on a steady rise. On December 28th, WTI closed at $47.62. Since then, prices hit a high of $53.57 on January 14th. On January 25th, WTI closed at $52.77.
The January 22nd Baker Hughes rig count report shows 378 active drilling rigs in the US. The oil rig count is 289 rigs, and the gas rig count is 88. One year ago, the total active land rig count was 772. Oil rigs are down 387, and gas rigs are down 27 compared to the January 2020 counts.
*Data from January 23, 2021, Baker Hughes Report.
|Bakken Region Total: 12
North Dakota: 12
|Rocky Mountain Total: 78
New Mexico: 62
|Central Plains Total: 5
|Gulf States Total: 45
Louisiana North: 30
Louisiana South (land & offshore): 15
|Texas Total: 180
District 1: 11
District 2: 12
District 3: 2
District 4: 6
District 5: 1
District 6: 17
District 7B: 1
District 7C: 12
District 8: 112
District 8A: 5
District 9: 0
District 10: 1
|Appalachian Total: 33
West Virginia: 10
In the major plays, the Permian Basin rig count is at 188 rigs, up 15 rigs from December.
In east Texas, the Eagle Ford shale is at 27 active rigs, up two from last month.
The Haynesville shale rig count is at 45 rigs, up two from one month ago.
The Anadarko rig count is 17, which is up one rig from the December count.
In the Rockies, the active rig count in the Niobrara Shale is 12 rigs, up two rigs from December
The Bakken Shale rig count is eleven rigs, the same as December.
The Appalachian has 35 active rigs, an increase of three rigs from last month.
The Energy Information Administration’s Short Term Energy Outlook report dated January 12th estimates US crude production fell from 12.2 million barrels per day in 2019, to 11.3 million barrels per day in 2020. The report predicts 2021 production to be 11.1 million barrels per day.
For more detailed news and information on the oil industry please visit our oilfield news and information page.
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