Image courtesy of Baker Hughes

Baker Hughes Inc. reported that the number of rigs engaged in exploration and production in the United States totaled 1,908 for the week ended August 8, 2014, up 19 from the previous week.

The current nationwide rig count is more than double the lowest level reached in recent years (876 in the week ended Jun 12, 2009) and is more than 10% above the 2013 level of 1,770 for the same week.

The U.S. rig count rose to a 22-year high in 2008, peaking at 2,031 in the weeks ending August 29 and September 12.

Rigs engaged in land operations last week rose by 18 to 1,832, with offshore drilling up by 4 to 62 rigs, while inland waters activity fell by 3 to 14 units.

The natural gas rig count was up by 3 to 316 for the week. In the same week a year ago, there were 386 active natural gas rigs.

The June count this year for natural gas rigs was the lowest since May 1993.

The number of natural gas-directed rigs is down 81% from its all-time high of 1,606 reached in late summer 2008.

The oil rig count for the week was up by 15 to 1,588. The count for the same period last year was 1,385.

The oil rig count hit its recent low in 2009 at just 179.

The number of vertical drilling rigs rose by 5 for the week ended August 8 to 378.

The horizontal/directional rig count was up by 14 to 1,530, reflecting shale drilling activity.

The Gulf of Mexico rig count for the U.S. was up by 2 to 60.

Baker Hughes has been tracking the rig count since 1944,


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