US oil, gas rig count falls 12 on week to 299, Enverus says, amid shut-in output return

摘要

The US oil and gas rig count fell by 12 to 299 on the week, Enverus said June 11, as upstream operators continued taking rigs out of domestic fields as they bring back selected wells shut-in the last few months. The oil rig and combined rig counts have plunged to historic lows, with current levels not seen at least since 2005, Enverus data shows. Oil rigs dropped by seven week on week to 199, while gas rigs fell five to 100. The horizontal rig count, which generally tracks unconventional wells, was at 256 this past week. Totals were last in the low 300s in May 2016, when oil prices were recovering from the high $20s/b. Prior to that, they haven’t been below 300 since July 2006, when the shale era was just getting underway. The rig count is down 64% from its mid-March level of 835, when E&P companies began releasing rigs and halting activity in response to the ongoing coronavirus pandemic as global oil demand sank along with crude prices. Currently falling rig counts now appear close to a bottom, Matt Andre, analyst for S&P Global Platts Analytics, said, but added whether that brings about new activity is another story.