RigData Insights

U.S. Rig Count for April 2018 Up 52 Rigs from March 2018

  • Friday, May 4, 2018
  • Posted By Greg Tsichlis

HOUSTON (May 4, 2018) – S&P Global Platts Analytics, today announced the U.S. rig count for April 2018 was 1,147, up 52 (+5%) from March 2018, and up 176 (+18%) from April 2017. This rig count includes U.S. onshore, U.S. inland waters, and U.S. offshore Gulf of Mexico drilling rigs.

  • April U.S. land rig count: 1,099, up 46 (+4%) from the previous month and up 177 (+19%) from April 2017
  • April U.S. inland waters and Gulf of Mexico rig count: 48, up 6 (+14%) from the previous month and down 1 (-2%) from April 2017


“On a month-over-month basis, the incremental growth in April’s land rig count was driven entirely by continued ramp-up of drilling in ‘traditional’ oil formations versus natural gas formations. In fact, we saw that drilling activity that targeted natural gas formations actually fell slightly last month from the prior month,” said S&P Global Platts Senior Industry Analyst Trey Cowan.  “Regionally, the strength in Texas drilling activity came mainly from the Permian basis, though there was also boosted activity for liquids drilling in the Eagle Ford Shale basin.”

 

Regarding non-land rigsthe April rise in U.S. inland waters was due in large part to new contracts on barge rigs.  “The Gulf of Mexico rig fleet is benefitting both from additional contracts as well as contract extensions,” said S&P Global Platts Rig Analyst Trevor Crone

‚Äč

S&P Global Platts U.S. Rig Counts

Apr 2018

Mar 2018

Month over Month Change

% Change

 

Apr 2017

Variance Year over Year (YOY)

YOY % Variance

Colorado

31

30

1

3%

 

31

0

0%

Louisiana

41

44

-3

-7%

 

44

-3

-7%

New Mexico

87

86

1

1%

 

56

31

55%

North Dakota

55

54

1

2%

 

47

8

17%

Oklahoma

143

138

5

4%

 

133

10

8%

Texas

567

531

36

7%

 

465

102

22%

Rest of U.S. Land

175

170

5

3%

 

146

29

20%

U.S. Land Subtotal

1,099

1,053

46

4%

 

922

177

19%

U.S. Inland Waters

11

8

3

38%

 

15

-4

-27%

U.S. Gulf of Mexico

37

34

3

9%

 

34

3

9%

U.S. Inland and Gulf of Mexico

48

42

6

14%

 

49

-1

-2%

Total U.S. Rig Count

1,147

1,095

52

5%

 

971

176

18%

 

CONTACT

Kathleen Tanzy, + 1 917 331 4607, kathleen.tanzy@spglobal.com; Gregory Tsichlis, + 817 616 2081, greg.tsichlis@spglobal.com

EMEA: Arnaud Humblot +44 207 176 6685, arnaud.humblot@spglobal.com  and Alex Brog +44 207 176 7645, alex.brog@spglobal.com

Singapore: Platts (platts@ryancommunication.com)

 

About S&P Global Platts

At S&P Global Platts, we provide the insights; you make better informed trading and business decisions with confidence. We’re the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture and shipping.

 

S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.platts.com.

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