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Principale » US Offshore Rig Count Up by 1

US Offshore Rig Count Up by 1

18 Août 2017

A year ago, just 481 rigs were active. Alaska, Louisiana, North Dakota, Oklahoma and Utah saw their rig fleets decline last week, the data showed.

West Texas Intermediate (WTI) crude oil for September delivery settled at $47.09 a barrel, up 0.7% on Thursday. USA production is expected to rise to 9.4 million barrels per day (bpd) in 2017 and a record 9.9 million bpd in 2018 from 8.9 million bpd in 2016, according to federal projections.

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Among major oil- and gas-producing states, California gained two rigs and New Mexico increased by one. The count for natural gas rigs is now up by 99 year over year. Natural gas for September delivery traded about 1.1% at around $2.90 per million BTUs before the count was released and remained essentially flat afterward. It was also one higher than the same period a year ago. That indicates that the OPEC-brokered cuts have not had much influence on oil prices. The current swing in price spreads is, according to Kemp, "a strong signal that the market is rebalancing (or most traders believe it is rebalancing)". Drillers have added rigs in 56 of the past 64 weeks since the start of June 2016.

A floor hand works on an Eagle Ford Shale rig.

US Offshore Rig Count Up by 1