Baker Hughes Metrics April 13, 2017



For the 13th week in a row...April 13 (Reuters) - U.S. drillers added oil rigs for a 13th week in a row, with the number of active rigs rising to near a two-year high, as energy companies boost spending on new production to take advantage of a recovery in crude prices. Drillers added 11 oil rigs in the week to April 13, bringing the total count to 683, the highest since April 2015, energy services firm Baker Hughes Inc said on Thursday. At this time a year ago, there were 351 active oil rigs. Much of the weekly gain can be attributed to Texas's Permian basin, which added eight rigs on the week. There are 339 active rigs in the Permian, located largely in the western part of Texas, 200 more than at this time last year.

From April 13th:
Bake Hughes : U.S. Baker Hughes U.S. Rig Count Weekly: Prior: 839.00, Actual: 847.00
Country: US Source: Bake Hughes Prior: 839.00 Actual: 847.00 Date: 13-Apr-2017 17:00:00
Frequency: Weekly Period: 14-04-2017 Relevance: Low URL: http://www.bakerhughes.com/

From April 10th:
(MT Newswires)
According to Goldman Sachs Research, if the US oil rig count stays at the current level, we estimate US oil production would increase by 490 kb/d between 4Q16 and 4Q17 across the Permian, Eagle Ford, Bakken and Niobrara shale plays; annual average US production would increase by 75 kb/d yoy on average in 2017. The yoy production would rise by 215 kb/d in 2017 if we account for the impact of the estimated remaining county-level well backlog being gradually brought back online between 4Q16 and 1H17. Last week, the US oil rig count continued its surge, up by 10.

From April 7th:
(HCG Research Associates)
For U.S.: 839, Change from last count: + 15, Change from last year: +396
US Baker Hughes Rig Count (Apr 7) W/W 839 (Prev. 824)
- US Baker Hughes Oil Rig Count (Apr 7) W/W 672 (Prev. 662)   US
Baker Hughes Gas Rig Count (Apr 7) W/W 165 (Prev. 160)