Welcome to the September 2021 oil & gas activity report from TCI Business Capital.
Over the past month oil prices have been on a ride. On August 20th, WTI closed at $62.14. Since then, prices have climbed steadily and hit a high of $72.61 on September 16th. On September 17th, WTI closed at $71.97.
The September 17th Baker Hughes rig count report shows 512 active drilling rigs in the US. One year ago, the total active rig count was 257. The oil rig count is 411 rigs. Oil rigs are up 232 from September 2020. The gas rig count is 100, up 27 rigs compared to the September 2020 count.
*Data from September 20, 2021, Baker Hughes Report.
|Bakken Region Total: 23
North Dakota: 22
|Rocky Mountain Total: 118
New Mexico: 84
|Central Plains Total: 35
|Gulf States Total: 39
Louisiana North: 34
Louisiana South (land & offshore): 5
|Texas Total: 238
District 1: 15
District 2: 16
District 3: 3
District 4: 9
District 5: 0
District 6: 15
District 7B: 3
District 7C: 20
District 8: 140
District 8A: 14
District 9: 0
District 10: 3
|Appalachian Total: 40
West Virginia: 8
In east Texas, the Eagle Ford shale is at 36 active rigs, one more than the August count.
The Haynesville shale rig count is at 47 rigs, which is up two from the August count.
The Anadarko rig count is 35, up five rigs from August.
In the Rockies, the active rig count in the Niobrara Shale is 29 rigs; two more rigs than in August.
The Bakken Shale rig count is 23 rigs, up one from August.
The Appalachian has 38 active rigs, which is down two from the August count.
The Energy Information Administration published the latest Short-Term Energy Outlook on September 8th. The report continues to state uncertainty over how continuing pandemic recovery will hamper pricing. The short-term energy outlook report said US crude oil production averaged 11.3 million barrels per day in June and is expected to stay around that level through the end of 2021.
For more detailed news and information on the oil industry please visit our oilfield news and information page.
TCI Business Capital is a leading provider of accounts receivable factoring for oilfield service companies. Factoring is a type of financing many companies use to get immediate cash for their open receivables.