Baker Hughes: North American rig count increases by one
Baker Hughes on May 21 reported a North American rig count of 513, an increase from last week led by more activity in US oil basins.
The North American rig count was bolstered by the gain of two rigs in shale oil basins in the US. Canada for the week saw a net loss of one rig.
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The total US rig count increased by two from last week to 455, with oil rigs up by four, gas rig activity down by one and “miscellaneous” rigs also one lower.
For oil, the Woodford shale basin in Oklahoma saw three more rigs put into service during the reporting week, while the Permian basin in Texas, among the more prolific US oil producers, saw the rig count decline by one.
For natural gas, the only area that saw fluctuations in weekly rig count activity was the Haynesville shale in the southern US, which saw the rig count drop by one.
Offshore in the Gulf of Mexico, the rig count dropped by one. All of the rigs there are working in oil.
US upstream activity is split 78.2% for oil and 21.8% for natural gas.
In Canada, Alberta saw its rig count decline by three, while neighbouring Saskatchewan saw an increase of one from the prior week. Upstream activity offshore Newfoundland has been static at one rig since mid-April.
Using data provided by Enverus, Baker Hughes does not break by Canadian production down at the provincial level for oil and natural gas. For the week ending May 21, oil accounted for 43.1% of the upstream activity, while natural gas covered the remaining 56.9%.