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]
About S&P Global Platts
At S&P Global Platts, we provide the insights; you make better informed trading and business decisions with confidence. We're the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture and shipping.
S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.platts.com.
SOURCE S&P Global Platts
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