Friday, September 14, 2012

U.S. Rig Count: Unchanged at 1,864

The Baker Hughes U.S. rig count was unchanged this week at 1,864.  Oil rigs were up four to 1,413, gas rigs were down four to 448 and miscellaneous rigs were unchanged at three.  By type, horizontal rigs were down two to 1,133, vertical rigs were up nine to 524 and directional rigs were down seven to 207.  Among gas rigs, horizontal rigs were unchanged at 316, directional rigs were down one to 79 and vertical rigs were down three to 53.

As an aside, I thought it would be interesting to see how the distribution of gas rigs by type would have changed over the past year and a half as the gas rig count dropped 51%, from 911 (February 4, 2011) to 448 (September 14, 2012).  Interestingly, it is almost exactly the same distribution today as it was back then, as shown on the table below.  Nothing incredibly revealing here, but it's not quite what I would have suspected, even though I didn't have a theory going in.

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