Friday, June 18, 2010

US Rig Count: +12 to 1,539

The weekly Baker Hughes rig count showed a 12 rig increase nationally, bringing the count to 1,539. This is the highest rig count since January 2009.  The rig count is now 76% higher than the trough reached in June 2009.

Interestingly, within the course of two weeks, the plunge in rig count caused by the Gulf of Mexico moratorium has been cancelled out (not to say that the same rigs have been redeployed in U.S. waters, though).

The big increase this week was in oil-targeted rigs, which were up 13, while there was one less gas-targeted rig.  By type, horizontal rigs increased by eight, while verticals increased by three and directionals increased by one. 

In the Haynesville Shale region, inclusive of other formations, the rig count increased by one to 215 after a three rig increase in east Texas and a two rig decrease in north Louisiana.

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