The Baker Hughes rig count report shows 851 active drilling rigs in the US as of October 18th. The oil rig count is 713 rigs and the gas rig count is 137. One year ago the total active land rig count was 1067. Oil rigs are down 160 and gas rigs are down 57 compared to the October 2018 counts.
*Data from October 18, 2019, Baker Hughes Report.
|Bakken Region Total: 55
North Dakota: 54
|Rocky Mountain Total: 173
New Mexico: 111
|Central Plains Total: 60
|Gulf States Total: 59
Louisiana North: 30
Louisiana South (land & offshore): 26
|Texas Total: 423
District 1: 32
District 2: 25
District 3: 12
District 4: 11
District 5: 1
District 6: 24
District 7B: 3
District 7C: 28
District 8: 269
District 8A: 15
District 9: 2
District 10: 1
|Marcellus Total: 55
West Virginia: 16
Turning to the major plays, the Permian Basin rig count is at 422. This count is up 3 rigs from one month ago, but down 67 rigs from one year ago.
The Texas Railroad Commission reports the number of oil well completions in the Permian for September was 456, with 444 being new oil well completions. The number of original drilling permits issued for the Permian in September was 362; 347 of these are new drilling permits.
In east Texas, the Eagle Ford shale is at 60 active rigs, down six rigs from September.
The Haynesville shale rig count is at 52 rigs, up two from September.
The Anadarko rig count is at 60, which is down 16 from the September count.
In the Rockies, the active rig count in the Niobrara Shale is at 58 rigs, which is a decrease of four rigs over the last month.
The Bakken Shale rig count is 54 rigs, which is down one from September.
The Appalachian has 55 active rigs, seven fewer rigs than the September count.
In the oil markets, WTI closed at $53.87 on October 18th. Since closing at $58.64 on September 23rd, prices have fallen to a low of $52.45 on October 3rd, and hit $54.70 on October 11th. Flat demand and an oversupply of oil are having an adverse effect on pricing.
For more detailed news and information on the oil industry please visit our oilfield news and information page.
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