RigData Insights

Year End 2017 U.S. Rig Count Up 45% Over 2016

  • Tuesday, January 9, 2018
  • Posted By Meagan Wildfong

pressreleaseJan 

 

HOUSTON (January 4, 2018) – S&P Global Platts Analytics, today announced the U.S. rig count for December 2017 was 1,030, down 23 (-2%) from November 2017, and up 321 (+45%) from December 2016. This rig count includes U.S. onshore, U.S. inland waters, and U.S. offshore Gulf of Mexico drilling rigs.

  • December U.S. land rig count: 989, down 27 (-3%) from the previous month and up 317 (+47%) from December 2016
  • December U.S. inland waters and Gulf of Mexico rig count: 41, up 4 (11%) from the previous month and up 4 (11%) from December 2016

 

S&P Global Platts Senior Industry Analyst Trey Cowan said: “The appetite for shallow conventional wells waned during December and accounted for nearly the entire pullback in drilling activity during the month. But the fact that horizontal drilling continued at a stable pace over the holidays suggests that underlying prices of oil and gas are at levels that will likely cause the overall U.S. rig count to climb during 2018.” 

 

Offshore land rig Rig Count

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