Opinion

February 2018 Total U.S. Rig Count Reveals Lack of Offshore Progression – S&P Global Platts

Posted by OilVoice Press - OilVoice

06-Mar-2018


HOUSTON – S&P Global Platts Analytics, has announced the total U.S. rig count for February 2018 was 1,077, up 7 (+1%) from January 2018, and up 243 (+29%) from February 2017. This rig count includes U.S. onshore, U.S. inland waters, and U.S. offshore Gulf of Mexico drilling rigs.
  • February U.S. land rig count: 1,036, up 9 (+1%) from the previous month and up 245 (+31%) from February 2017
  • February U.S. inland waters and Gulf of Mexico rig count: 41, down 2 (-5%) from the previous month and down 2 (-5%) from February 2017
“Trends for inland water and offshore drilling continue to prove lackluster support for developing these resources,” said S&P Global Platts senior industry analyst Trey Cowan. “The current count of 41 is only four rigs above the lowest monthly point recorded in the past two calendar years. The present lack of investment in the Gulf of Mexico no doubt raises eyebrows at the U.S. Department of Interior and does not bode well for the lease auction set for March 21, 2018. However, producers may be able to find some bargains when Lease Sale 250 commences for blocks situated in the Outer Continental Shelf.”
 
S&P Global Platts U.S. Rig Counts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Feb 2018
Jan 2017
Month over Month Change
% Change
 
Feb 2017
Variance Year over Year (YOY)
YOY % Variance
Colorado
32
34
-2
-6%
 
31
1
3%
Louisiana
47
52
-5
-10%
 
39
8
21%
New Mexico
90
83
7
8%
 
46
44
96%
North Dakota
51
50
1
2%
 
36
15
42%
Oklahoma
133
128
5
4%
 
114
19
17%
Texas
511
508
3
1%
 
398
113
28%
Rest of U.S. Land
172
172
0
0%
 
127
45
35%
U.S. Land Subtotal
1036
1027
9
1%
 
791
245
31%
U.S. Inland Waters
6
5
1
20%
 
9
-3
-33%
U.S. Gulf of Mexico
35
38
-3
-8%
 
34
1
3%
U.S. Inland and Gulf of Mexico
41
43
-2
-5%
 
43
-2
-5%
Total U.S. Rig Count
1,077
1,070
7
1%
 
834
243
29%



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United StatesUSS&P Global PlattsOffshoreRig CountonshoreInland WatersGOMGulf Of Mexico

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