Press Releases
HOUSTON, Feb. 7, 2019 /PRNewswire/ -- S&P Global Platts Analytics, today announced the total U.S. rig count for January 2019 was 1,113, down 34 (-3%) from December 2018, and up 18 (+2%) from January 2018. This rig count includes U.S. onshore, U.S. inland waters, and U.S. offshore Gulf of Mexico drilling rigs.
- January U.S. land rig count: 1,084, down 32 (-3%) from the previous month and up 17 (+2%) from January 2018
- January U.S. inland waters and Gulf of Mexico rig count: 29, down 2 (-6%) from the previous month and up 1 (+4%) vs January 2018
"Heading into the new calendar year, oil prices were in a weakened state and trading below $50 per barrel (/b) of West Texas Intermediate (WTI) crude," said S&P Global Platts Senior Analyst Trey Cowan. "But in January, prices improved by about $7/b from the beginning to end-month, and it is this price rebound that is more telling than the sloughing off a few rigs over the month. Looking ahead, if WTI crude stays in the mid-$50/b area, we would expect the rig count to follow suit and show improvement in the weeks ahead."
S&P Global Platts U.S. Rig Counts | ||||||||
Jan 2019 | Dec 2018 | Month over Month Change | % Change | Jan 2018 | Variance Year over Year (YOY) | YOY % Variance | ||
Colorado | 33 | 38 | -5 | -13% | 34 | -1 | -3% | |
Louisiana | 49 | 43 | 6 | 14% | 57 | -8 | -14% | |
New Mexico | 94 | 97 | -3 | -3% | 89 | 5 | 6% | |
North Dakota | 61 | 61 | 0 | 0% | 53 | 8 | 15% | |
Oklahoma | 133 | 151 | -18 | -12% | 129 | 4 | 3% | |
Texas | 540 | 537 | 3 | 1% | 528 | 12 | 2% | |
Rest of U.S. Land | 174 | 189 | -15 | -8% | 177 | -3 | -2% | |
U.S. Land Subtotal | 1,084 | 1,116 | -32 | -3% | 1,067 | 17 | 2% | |
U.S. Inland Waters | 1 | 3 | -2 | -67% | 3 | -2 | -67% | |
U.S. Gulf of Mexico | 28 | 28 | 0 | 0% | 25 | 3 | 12% | |
U.S. Inland and Gulf of Mexico | 29 | 31 | -2 | -6% | 28 | 1 | 4% | |
Total U.S. Rig Count | 1,113 | 1,147 | -34 | -3% | 1,095 | 18 | 2% | |
CONTACT
Kathleen Tanzy, + 1 917 331 4607, kathleen.tanzy@spglobal.com
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SOURCE S&P Global Platts
