Enverus reports increased rig numbers including in Oklahoma’s STACK play

 

This week’s Enverus Rig Analytics report says the U.S. oil and gas rig count rose by 13 in the past week, reaching 393 as of January 6. It also showed Oklahoma’s STACK play is seeing more activity.

The largest gains were reported in the Permian Basin where the count increased by three to 168 and the Appalachia where there are currently 39 active rigs, an increase of three in the past week.

The nation’s oil and gas rig count is down 3% in the past month and 52% in the past year, according to Enverus which released its figures on Thursday.

The report showed the largest declines in the past month were in the Gulf Coast where the numbers fell five down to 40 and in the Permian where the current numbers are down five from a month ago.

Enverus said Oklahoma’s STACK was one of three plays where the most notable changes were made.

“At six running, the STACK doubled its activity level month-over month,” stated Enverus. “Devon Energy is running a single rig in the play, drilling there for the first time since September 2019.”

The Thursday report said other changes were reported in the Louisiana Haynesville and the Midland Basin. Three rigs were added in the Louisiana Haynesville bringing the total to 26. GeoSouthern Energy accounted for two of the additions bringing its active rig count to three in the play.

 

In the Midland Basin, the rig count dropped by six in the past month and Enverus stated that the changes were due to single-rig drops by multiple operators and the downtime between drilling operations.

Enverus indicated Pioneer Natural Resources has been ramping up activity since mid-November, going from seven to the dozen rigs it currently has in operation. Pioneer is in the process of closing its acquisition of Parsley Energy this quarter. Parsley Energy has also increased its rig activity, going from one rig in late October 2020 to five currently.

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