The U.S. rig count is steadily growing according to Enverus which reported an increase of 15 rigs to a total of 356.
The data-providing firm’s Day Rate Report showed the count is up 14% over last month but still down 57% compared to a year ago.
The largest weekly gain was the Permian where the number of actively-drilling rigs increased by 10 to reach 148. The Gulf Coast increased by 5 to 40.
Some contractors who took part in an October survey indicated they anticipate drilling to improve slightly in 2021 reported Enverus.
The group noted that since late August when WTI crude peaked at $43 a barrel for the first time since March, the country’s rig count steadily increased from more than 270 rigs to the current level. But during the timeframe, WTI suffered at least three major setbacks to around $36 a barrel.
Enverus suggested that the U.S. rig count continues to be largely unaffected by the volatility in the market which has been spurred by new COVID-19 lockdowns and threats to demand.
Enverus, headquartered in Austin, Texas, the company provides data, insights and software to the energy industry.
Source: Enverus