Rig Count | Top Story | Drilling Activity | Weekly Rig Count | Drilling Contractor
Weekly Rig Count : Operators Drop 20 Rigs, Largest in 12 Months
Print
|
Baker Hughes is reporting that US drillers dropped 20 rigs this week, culminating in a total lost of 84 rigs YTD. The Permian and Anadarko Basin are the biggest losers. The Anadakro Basin lost 25% of rigs vs last year.
In January we forecast that we will lose between ~100 rigs in 2019. The 2nd largest drilling contractor said this week it expects rig count decline to bottom at the end of Q2 2019.
Lowest since April of 2018.
The chart above shows that we have not seen this level of decline since last year.
Who are the companies dropping rigs?
The chart above shows the companies that have dropped the most rigs. Sanchez has dropped 6 of its 8 rigs, the company was also delisted. Another one is Alta Mesa who have reported tapped its entire credit line, (a tactic normally done by companies before they file bankruptcy).
Who is increasing activity this year?
On the other side of those dropping rigs are those companies that have been busy increasing their rig count.
Exxon has added +24 rigs so far this year
BPX Energy (BP Lower 48 + Acquired BHP Assets) have ramped up as well, MDC Texas Operator and Birch amoung others.
2019 vs 2018 Capital Spending.
Based on data we track from 90+ public E&Ps, drilling & completion capital spending is expected to be down -11% year over year. Operators are seeking to do more with less and as result, year over year drilling and completion activity (wells drilled, wells frac'd) are expected to do down 8%.
Completion Forecast by Region 2019
- Permian frac/completion activity will be up +3%
- Anadarko Basin frac/completion activity will be down -22%
- Eagle Ford frac / completion activity will be down -6%
More Weekly Rig Count News
Rig Activity By Operator, County, Well: Week Ending August 27, 2021
The US rig count continues to grow, up +6 this week. The main movements were observed in the Bakken, +3 Permian +3 Powder River +3 Uinta +1 Click…
Rig Activity By Operator, County, Well: Week Ending July 23, 2021
The US rig count continues to grow, up +1 this week. The main movements were observed in the Bakken, +2 and the Utica up +2. Click on the…
Rig Activity By Operator, County, Well: Week Ending July 2, 2021
This week we did not observe much change in the U.S. rig count - click on the image below to enlarge for rig count by basin. As a…
Rig Activity By Operator, County, Well : Week Ending June 11, 2021
This week we did not observe much changes in the U.S. rig count. Click on the image below to enlarge for rig count by Basin. As a reminder,…
Rig Activity By Operator: Week Ending April 16, 2021
This week operators dropped another -9 rigs across the core basins. Lets take a look at the activity by basin. The Permian lost 4 rigs and the Haynesville…
Ark-La-Tex News
Why $90 Oil Isn’t Bringing Back the Rigs
Higher oil prices are not translating cleanly into a drilling response across U.S. shale, and company disclosures are starting to show why. The issue is not simply capital…
These Three Companies Will Increase Drilling & Completion Over The Next 3 Year
In the span of fifteen months, three Japanese energy companies committed more than $10.3 billion to U.S. natural gas production assets — a buying spree that has transferred…
Q1 A&D Transactions Jump to $30B , While Deal Flow Was Down 40%
The first quarter of 2026 has officially defined the "Barbell Era" of American oil and gas. While the total number of deals plummeted by 46% YoY (dropping to…
Wright to U.S. Oil Industry: The Price Signal Is Telling You to Drill
Energy Secretary Chris Wright stood in front of the largest gathering of oil executives in the world this morning and delivered a message that was equal parts market…
Ascent Resources 2026: A Quiet Growth Story for Oilfield Services
Ascent Resources may not be making headlines with rig additions or dramatic well count increases, but a closer read of their March 2026 investor presentation — compared against…
Gulf Coast News
Apa Corp : Doing More With Less
APA's 2025 narrative was one of operational surprise. The company came in beating production guidance every single quarter while spending below plan, capturing over $300MM in cost savings…
Diversified Energy Striking While the Iron is Hot in East Texas
Transaction Summary Diversified Energy has entered into a definitive purchase and sale agreement to acquire high-working interest, natural gas producing assets in East Texas from Sheridan Production for…
Permian Resources to Grow Production 6% in 2026
Permian Resources exited 2025 as the largest pure-play Delaware Basin operator with ~480,000 net acres and >105,000 net royalty acres. The company averaged 392.6 MBoe/d in 2025, including…
Battalion Oil Closes ~$60M West Quito Draw Asset Sale
Battalion Oil Corporation has closed the sale of its West Quito Draw assets in the Southern Delaware Basin to MCM Delaware Resources LLC, a subsidiary of MCM Energy…
Infinity Closes $1.2B Utica Upstream & Midstream Deal
Infinity Natural Resources has completed its $1.2 billion acquisition of upstream and midstream assets in the Ohio Utica Shale from Antero Resources and Antero Midstream, according to company disclosures…