New growth in nation’s rig count

 

 

The US rig count inched up by three in the last week to 521 as of April 28, according to Enverus Rig Analytics. The current count is up 5% in the last month and up 27% YOY and Oklahoma’s Chesapeake Energy is among those with increased activity.

US activity levels have continued their rebound in the last month, with 26 rigs added. The most notable changes occurred in the Midcontinent (up 12 to 41), Gulf Coast (up seven to 65) and Ark-La-Tex (up six to 60).

The story across these three regions is similar: More operators are drilling wells. In the Midcon, 34 companies are active, compared to 22 a month ago. Active Gulf Coast operators increased by five to 47, and Ark-La-Tex drillers rose by two to 25.

In the Gulf Coast, Hilcorp has ramped to two rigs after a seven-month hiatus. Gulfport Energy is running a rig in the Midcon for the first time in five months. For operators that were already active, increases of note include Chesapeake Energy. The company increased to a three-rig program in the Haynesville after averaging two for the last three quarters and is running a rig in the Gulf Coast for the first time in 10 months.

Ark-La-Tex-focused GeoSouthern Energy also added a rig, bringing its total to three and returning to an activity level not seen since January 2020.

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