FACTORING BLOG

January 2018 Active Drilling Rigs

January 2018 canada drilling rigs

January 2018 Active Drilling Rigs

Bakken Total: 45 North Dakota: 45	Rocky Mountain Total: 147 Colorado: 34 New Mexico: 76 Utah: 11 Wyoming: 26	Central Plains Total: 118 Oklahoma: 118
Gulf States Total: 60 Alabama: 2 Louisiana North: 38 Louisiana South (land & offshore): 18 Mississippi: 2	Texas Total: 454 Texas RRC District 1: 32 District 2: 29 District 3: 14 District 4: 16 District 5: 2 District 6: 18 District 7B: 5 District 7C: 38 District 8: 266 District 8A: 19 District 9: 2 District 10: 12	Marcellus Total: 76 Ohio: 27 Pennsylvania: 36 West Virginia: 13

*Data from January 5, 2018 Baker Hughes Report, and from www.boereport.com.

January 2018 Rig Count Summary

With the start of the new year, the January 2018 Rig Count Summary shows improvement in the US over the beginning of 2017. January 2017 started out with a total of 665 active drilling rigs in the US. In Canada, the numbers tell a different story. Canadian drillers began 2017 with 205 active rigs. In 2018, there are 136 active drilling rigs reported.

January 2018 Oil Prices

There continues to be a steady climb in the price of WTI, from January 2017 to January 2018. January 5 pricing in 2017 closed at $53.76, compared to a close at $61.44 on January 5, 2018. Some analysts expect US production to rise above 10 million barrels per day, as shale drillers increase output.

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