SEATTLE (Oil Monster): The weekly data released by Baker Hughes Company suggests rise in U.S. rig count during the current week, when matched with the week before.
During the week ended 22nd November, 2023, the number of rigs engaged in the exploration and production of oil and natural gas in the United States stood at 622. This is higher from the count of 618 a week before. The count registered second straight week of increase. Meantime, the national rig count figure was much lower when compared with 784 a year ago, Baker Hughes noted.
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The count of onshore rigs totalled 600 during the week ended 22nd November, higher than 597 during the prior week. The number of operating offshore rigs increased from 19 to 21 over the prior week.
The oil rig count at 500 was more or less in line with the previous week count. However, it stood significantly lower when compared with 627 rigs reported during the same week a year before. The natural gas rig count of 117 was higher from the previous week count of 114, but sharply down from 155 a year before.
According to Baker Hughes, the number of vertical drilling rigs was in line with the previous week’s count of 13. The horizontal/directional rig count increased from 605 during the previous week to 609 during the week ended 22nd November, 2023.
