Author Topic: Baker-Hughes North America Rig Count  (Read 19034 times)

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Offline Smokin Joe

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Baker-Hughes North America Rig Count
« on: May 07, 2016, 02:55:14 am »
Baker-Hughes North America Rig Count

http://phx.corporate-ir.net/phoenix.zhtml?c=79687&p=irol-reportsother

Additional links will take you to more information as well, and not just North America.
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Offline MajorClay

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Re: Baker-Hughes North America Rig Count
« Reply #1 on: May 14, 2016, 03:39:03 pm »
406 this week.  This has to bottom out at some point.

Offline Smokin Joe

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Re: Baker-Hughes North America Rig Count
« Reply #2 on: June 16, 2016, 06:55:00 am »
406 this week.  This has to bottom out at some point.
Back up to 388 land rigs as of 6/10, 5 inland water and 21 offshore for a total of 414 (not counting the GOM)
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Offline MajorClay

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Re: Baker-Hughes North America Rig Count
« Reply #3 on: June 23, 2016, 10:07:02 pm »
Of interest to you Joe?  I know you were looking for info on 'Drilled but Uncompleted"

Offline Smokin Joe

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Re: Baker-Hughes North America Rig Count
« Reply #4 on: June 24, 2016, 12:33:02 am »
Of interest to you Joe?  I know you were looking for info on 'Drilled but Uncompleted"
Thanks, and yes, this is of interest. Nearly 90% of the drilling rigs we had at the peak are in the weeds, shut down. While those here are drilling more efficiently than ever, limited numbers of wellsites mean limited business opportunities.
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Offline MajorClay

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Re: Baker-Hughes North America Rig Count
« Reply #5 on: June 24, 2016, 03:34:37 am »
Over 3000 wells to be completed still.  I don't think they can finish them all before this time next year.

Offline Smokin Joe

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Re: Baker-Hughes North America Rig Count
« Reply #6 on: June 24, 2016, 06:38:03 am »
Over 3000 wells to be completed still.  I don't think they can finish them all before this time next year.
They likely won't. One well on the lease is enough to hold by production. Up here, it is not uncommon to have another three to seven wells in different parts of the target zones spread out across the width of the rectangle (1280 acre/2 section spacing), usually two to four in the Three Forks, two to four in the Middle Bakken, sometimes additional wells in the second zone in the Three Forks, and sometimes (when present) wells in the Pronghorn (a unit between the lower Bakken Shale and the Top of the Three Forks that isn't as universally present in the Basin).

It is cheaper to drill them while the rig is moved in and set up, and let the additional wells wait for better economics to frac them. In the event that prices shifted suddenly, the 'fraclog' (backlog of completion work) would likely get longer, not shorter, as drilling resumed, but in the event of a slower price recovery, it may be that those wells would be fracced before additional wells were drilled. Some operators may just be waiting from frac costs to drop as competition makes the market for services more cutthroat, but the inventory of DUC wells may keep that from being as much a drop as they would like. Others may be waiting on infrastructure or takeaway capacity which is cheaper to ship crude on (pipelines, for instance).

I would expect similar market driven factors affecting the DUC wells in other areas like the Permian Basin, Marcellus, Utica, and the Haynesville, for instance, and similar rationales affecting the completion of those wells.
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Offline Smokin Joe

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Re: Baker-Hughes North America Rig Count
« Reply #7 on: August 09, 2016, 08:20:06 am »
US Rig count at 464 total, 17 of which are offshore, as of 8/5/2016
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Offline Smokin Joe

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Re: Baker-Hughes North America Rig Count
« Reply #8 on: March 21, 2017, 06:58:53 am »
North American Rig count http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NjYzMzY5fENoaWxkSUQ9MzcwNjYzfFR5cGU9MQ==&t=1

Up to 789 in the US, counting offshore. See above for breakdown for North America for March so far, by State/District
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Offline MajorClay

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Re: Baker-Hughes North America Rig Count
« Reply #9 on: March 21, 2017, 02:54:07 pm »
Almost doubled in a year, fracklog is probably getting longer.

Offline Smokin Joe

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Re: Baker-Hughes North America Rig Count
« Reply #10 on: June 21, 2019, 01:32:22 pm »
https://rigcount.bhge.com/static-files/521d7fe5-0796-4eb6-a256-fddd018ece0d

Down six from June 7 to June 14, current US rig count at 969, including US offshore.
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Offline Smokin Joe

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Re: Baker-Hughes North America Rig Count
« Reply #11 on: April 06, 2020, 09:04:45 am »
North America at  705 (1093 1 year ago)

More info here: https://rigcount.bakerhughes.com/na-rig-count
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Online Hoodat

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Re: Baker-Hughes North America Rig Count
« Reply #12 on: April 06, 2020, 11:56:45 am »
Our drilling (GOM) is shut down for now, but it is virus-related, not price-related.
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Offline Smokin Joe

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Re: Baker-Hughes North America Rig Count
« Reply #13 on: April 06, 2020, 02:12:40 pm »
Our drilling (GOM) is shut down for now, but it is virus-related, not price-related.
CAPEX shifts into the Williston Basin which were set before the price crash were revised downwards, some severely. Rigs in operation are finishing up their pads, but I am not sure how many of them will be stacked. The virus is small concern compared to the price, here.
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis