U.S. Inland Waters and Gulf of Mexico Rig Counts Continue to Rise While U.S. Land Counts Remain Flat
HOUSTON, June 4, 2018 /PRNewswire/ -- S&P Global Platts Analytics, today announced the total U.S. rig count for May 2018 was 1,164, up 17 (+1%) from April 2018, and up 138 (+13%) from May 2017. This rig count includes U.S. onshore, U.S. inland waters, and U.S. offshore Gulf of Mexico drilling rigs.
- May U.S. land rig count: 1,111, up 12 (+1%) from the previous month and up 135 (+14%) from May 2017
- May U.S. inland waters and Gulf of Mexico rig count: 53, up 5 (+10%) from the previous month and up 3 (+6%) from May 2017
"Recently, the smaller, more price-sensitive oil and gas rig operators have driven activity gains," said S&P Global Platts Senior Industry Analyst Trey Cowan. "But now that near-term crude oil prices appear to have plateaued we would not be surprised to see those same smaller operators pull back on their drilling."
S&P Global Platts Rig Analyst Trevor Crone pointed to the improved month-over-month economic conditions for rig operators in the U.S. inland waters and the Gulf of Mexico.
| S&P Global Platts U.S. Rig Counts |
||||||||
| May 2018 |
April 2018 |
Month over Month Change |
% Change |
May 2017 |
Variance Year over Year (YOY) |
YOY % Variance |
||
| Colorado |
34 |
31 |
3 |
10% |
37 |
-3 |
-8% |
|
| Louisiana |
44 |
41 |
3 |
7% |
47 |
-3 |
-6% |
|
| New Mexico |
91 |
87 |
4 |
5% |
56 |
35 |
63% |
|
| North Dakota |
54 |
55 |
-1 |
-2% |
45 |
9 |
20% |
|
| Oklahoma |
144 |
143 |
1 |
1% |
140 |
4 |
3% |
|
| Texas |
566 |
567 |
-1 |
0% |
497 |
69 |
14% |
|
| Rest of U.S. Land |
178 |
175 |
3 |
2% |
154 |
24 |
16% |
|
| U.S. Land Subtotal |
1,111 |
1,099 |
12 |
1% |
976 |
135 |
14% |
|
| U.S. Inland Waters |
14 |
11 |
3 |
27% |
14 |
0 |
0% |
|
| U.S. Gulf of Mexico |
39 |
37 |
2 |
5% |
36 |
3 |
8% |
|
| U.S. Inland and Gulf of Mexico |
53 |
48 |
5 |
10% |
50 |
3 |
6% |
|
| Total U.S. Rig Count |
1,164 |
1,147 |
17 |
1% |
1,026 |
138 |
13% |
|
CONTACT
Kathleen Tanzy, + 1 917 331 4607, [email protected]
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SOURCE S&P Global Platts
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