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Current location:HOME>> News>> Industry News>> Permian helps boost US rig count by 14
Permian helps boost US rig count by 14
AUTHOR:admin PUBLISHED:2016-10-26 CLICK:正在读取

Previously stagnant since the beginning of September, the Permian basin’s rig count surged during the week ended Oct. 21, helping boost the overall US rig count by double-digits.

Data from Baker Hughes Inc. show the US tally gained 14 during the week to 553 rigs working, up 149 since the drilling rebound began following the week ended May 27. Compared with the count for the week ended Dec. 5, 2014, just before the drilling dive commenced after the initial plunge in crude-oil prices, the overall tally is down 1,367 units.



The Permian, which until recent weeks had served as the primary catalyst behind the US rebound, reasserted itself as the nation’s hottest oil region by supplying 11 more units—all targeting oil—to the US count. At 212 rigs working, the basin is up 78 units since May 13.

Given the increased drilling activity in basin that stretches across West Texas and into southern New Mexico, the US Energy Information Administration estimates the Permian gained 52 drilled but uncompleted (DUC) wells during September to bring its total to 1,378.

As with its August DUC estimate in EIA’s Drilling Productivity Report, the Permian was the only major US oil- and gas-producing region to record a monthly increase. The overall US DUC count fell by 27 during September to 5,069, down 507 compared with its January 2016 peak in EIA’s data.

Looking ahead, EIA forecasts Permian’s November crude oil production will rise 30,000 b/d to 2.012 million b/d and natural gas output will increase 58 MMcfd to 7.054 bcfd. During the month, overall US crude production is expected to drop 30,000 b/d to 4.429 million b/d, and gas production is seen losing 178 MMcfd to 45.958 bcfd.

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