• 5 minutes Mike Shellman's musings on "Cartoon of the Week"
  • 11 minutes Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 17 minutes WTI @ 67.50, charts show $62.50 next
  • 16 hours Newspaper Editorials Across U.S. Rebuke Trump For Attacks On Press
  • 12 hours WTI @ 69.33 headed for $70s - $80s end of August
  • 4 hours Pakistan: "Heart" Of Terrorism and Global Threat
  • 6 hours The Discount Airline Model Is Coming for Europe’s Railways
  • 16 hours Batteries Could Be a Small Dotcom-Style Bubble
  • 1 day Corporations Are Buying More Renewables Than Ever
  • 7 hours Venezuela set to raise gasoline prices to international levels.
  • 3 hours Saudi Fund Wants to Take Tesla Private?
  • 13 hours Starvation, horror in Venezuela
  • 4 hours Scottish Battery ‘Breakthrough’ Could Charge Electric Cars In Seconds
  • 3 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 18 hours Don't Expect Too Much: Despite a Soaring Economy, America's Annual Pay Increase Isn't Budging
  • 19 hours France Will Close All Coal Fired Power Stations By 2021
Alt Text

Gulf Coast Refineries Process Record Volume Of Crude

U.S. refiners are churning out…

Alt Text

Crude-By-Rail Could Save The Permian Boom

Crude-by-Rail (CBR) has been a…

Alt Text

EIA: U.S. Oil Production Growth Is Slowing

The EIA has revised down…

Arthur Berman

Arthur Berman

Arthur E. Berman is a petroleum geologist with 36 years of oil and gas industry experience. He is an expert on U.S. shale plays and…

More Info

Trending Discussions

Horizontal Land Rig Count Summary 15th April 2016

Horizontal Land Rig Count Summary 15th April 2016

This week's rig count was mostly about adjusting some big accounting errors from last week!

The total U.S. land rig count fell by 5 to 409 and the horizontal land rig count fell by 6 to 335.

Last week, the Bakken HRZ gained 8 rigs which seemed like a lot but this week it lost 11 rigs so it seems like it really lost 3 net rigs over 2 weeks. Similarly, last week the Woodford supposedly gained 8 rigs--a lot--but this week it lost 8 for a net change of zero.

With that behind us, it seems like the horizontal rig count really dropped by 11 over the past 2 weeks. Related: Why the Saudis Want a Deal in Doha

Tight oil lost 7, shale gas lost 2 and "other" lost 2. For tight oil plays, the Bakken lost 3, the Eagle Ford, 1, the Permian 2 and Mississippi Lime, 1. For shale gas plays, the Haynesville lost 1, the Marcellus lost 1, the Utica gained 1 and the Barnett lost 1.

I think that I've gotten the accounting right. Baker Hughes made no acknowledgement that they had made any errors.

 

(Click to enlarge)

The rig count decline continues to follow the WTI price as can be seen in below chart. Related: Oil Slips While All Eyes Are On Doha

 

(Click to enlarge)

By Art Berman for Oilprice.com

More Top Reads From Oilprice.com:




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News