Oil and gas rig count increased nationally in the past week


The latest rig count provided by Enverus shows a 3% increase in the number of rigs active in the different basins in the U.S.

The number of rigs running in the US rose by nine in the last week to a total of 332, as of Oct. 21. The count is up 12% in the last month but is down 61% in the last year.

We’ll learn how Oklahoma and individual states fared when the Baker Hughes rig count is released on Friday.

Major basins with increases in the last week were the Anadarko (up four to 18), DJ (up two to six) and Permian (up two to 132).

Cimarex Energy is now running one rig in the Anadarko Basin after being inactive since the end of March. The company also has ramped up its Delaware Basin activity, going from one rig at the end of June to four at the beginning of September, and has sustained that count since.

After running five rigs in the Permian during Q3, DoublePoint Energy added a sixth Oct. 21. EOG Resources ran an average of four rigs in the Permian starting in mid-May, then ramped to five at the end of August, seven in mid-September and has added an eighth in the last week.

ConocoPhillips put a second rig to work in the basin in the last week after running one since the beginning of June.

Lastly, Occidental Petroleum is back in action in the DJ Basin, with one rig running. The company dropped to zero rigs in the play in late April, ran a rig for two days in September and restarted a single-rig program Oct. 21.

Source: Enverus

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