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Flotek Industries Inc. Message Board

  • rosen62 rosen62 Jun 14, 2013 1:09 PM Flag

    Rig Count: U.S. +6 at 1771, Canada +24 at 176

    Steady...

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    • The U.S. rotary rig count was up 6 at 1,771 for the week of June 14, 2013. It is 200 rigs (10.1%) lower than last year.

      The number of rotary rigs drilling for oil was up 6 at 1,412. There are 8 more rigs targeting oil than last year. Rigs drilling for oil represent 79.8 percent of all drilling activity.

      Rigs directed toward natural gas were down 1 at 353. The number of rigs currently drilling for gas is 209 lower than last year's level of 562.
      Year-over-year oil exploration in the U.S. is up 0.6 percent. Gas exploration is down 37.2 percent. The weekly average of crude oil spot prices is 15.6 percent higher than last year and natural gas spot prices are 68.3 percent higher than last year. Daily crude oil and natural gas futures and spot prices are available on our site.

      Canadian rig activity is up 24 at 176 for the week of June 14, 2013 and is 72 29.0%) lower than last year's rig count. The number of rigs drilling for oil was up 26 at 126 and is 72 (36.4%) lower than last year. Gas directed rig count was down 2 at 52 and is unchanged from last year. Canadian drilling falls rapidly in the spring to avoid environmental damage moving drilling equipment during the spring thaw and rainy season. With wide weather related seasonal swings, even year-over-year comparisons can lead to incorrect conclusions.

      Monthly: International Rig Counts

      International rig count, which excludes the US and Canada, was up 33 to 1,301 for the month of April 2013 and is 123 rigs (10.4%) above last year's 1,178 rigs.

      The total number of rotary rigs worldwide in April was 3,209 down 279 from March and 89 (2.7%) lower than last year.

 
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