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Rig Count: HZ Rigs Drop by -6 While Vertical Rigs Post +4 Gain
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According to Baker Hughes' April 15, 2016 rig count report, rig counts are still dropping, but the pace has slowed compared to previous weeks.
U.S. rig counts declined by -3 overall, while Canada reported a decrease, losing -1. In March 2016, the International market lost -33.
Overall, -6 horizontal were taken down this week while vertical rigs increased by +4.
After posting rig gains last week, the Woodford saw a loss of -3 rigs this week. The only gain was reported in the Barnett, which added +1 rig.
For the U.S., the total year-over-year (YOY) rig count drop is now at -514. The current active rig count in the U.S. is 440.
Canada's rig count declined by -1. The country's rig count has fallen by -40 rigs YOY with 40 rigs currently active.
On the International front, rig counts dropped by -33 in March of this 2016, with 985 rigs currently active (a loss of -266 YOY).
- Niobrara 0, 15 total
- Barnett +1, 5 total
- Eagle Ford -1, 42 total
- Marcellus -1, 28 total
- Bakken -1, 26 total
- Utica 0, 12 total
- Permian -1, 141 total
- Woodford -3, 35 total
- Miss Lime -1, 4 total
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