HOUSTON, Nov. 2, 2017 /PRNewswire/ -- S&P Global Platts Analytics, today announced the U.S. rig count for October 2017 was 1,033, down 10 (-1%) from September 2017, and up 395 (+62%) from October 2016. This rig count includes U.S. onshore, U.S. inland waters, and U.S. offshore Gulf of Mexico drilling rigs.


    --  October U.S. land rig count: 994, down 8 (-1%) from the previous month
        and up 394 (+66%) from October 2016
    --  October U.S. inland waters and Gulf of Mexico rig count: 39, down 2
        (-5%) from the previous month and up 1 (+3%) from October 2016

"Where the rigs have gone idle of late is interesting because the changes fly in the face of what has happened in the commodities markets," said S&P Global Platts senior industry analyst Trey Cowan. "For example, it was rigs drilling for oil that showed some weakness during the past month, despite prices for West Texas Intermediate crude oil having generally improved. Conversely, we saw a pickup in natural gas rigs juxtaposed against weakening natural gas prices."

Looking ahead, Cowan said: "Over the coming winter we would not be surprised to see a continued seasonal flattening of rig activity as the holidays and the exhausting of yearly capital budgets tend to take a toll."


    S&P Global Platts U.S. Rig Counts


                                      October 2017      September 2017         Month over Month     % Change           October 2016         Variance Year over Year
                                                                                    Change                                                            (YOY)               YOY % Variance
                                           ------------        --------------    ----------------          --------         ------------     -----------------------      --------------

    Colorado                                         40                     43                   -3                -7%                   24                           16                  67%

    Louisiana                                        48                     47                    1                 2%                   29                           19                  66%

    New Mexico                                       71                     72                   -1                -1%                   33                           38                 115%

    North Dakota                                     52                     53                   -1                -2%                   34                           18                  53%

    Oklahoma                                        127                    137                  -10                -7%                   81                           46                  57%

    Texas                                           480                    483                   -3                -1%                  285                          195                  68%

    Rest of U.S. Land                               176                    167                    9                 5%                  114                           62                  54%
    -----------------

    U.S. Land Subtotal                              994                   1002                   -8                -1%                  600                          394                  66%
    ------------------                              ---                   ----                  ---                ---                   ---                          ---                  ---

    U.S. Inland Waters                                8                      8                    0                 0%                    5                            3                  60%

    U.S. Gulf of Mexico (GOM)                        31                     33                   -2                -6%                   33                           -2                  -6%

    U.S. Inland and GOM                              39                     41                   -2                -5%                   38                            1                   3%

    Total U.S. Rig Count                          1,033                  1,043                  -10                -1%                  638                          395                  62%
    ====================                          =====                  =====                  ===                ===                   ===                          ===                  ===

CONTACT

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SOURCE S&P Global Platts