The US rig count has posted its largest increase since the beginning of the shale oil and gas boom.
The Baker Hughes Inc. tally of active rigs for the week ended Jan. 20 climbed 35 units, the most since the count jumped by 39 during the week ended Aug. 12, 2011. At 694 rigs working, the count is up 290 units since May 27, 2016, after which the recent drilling rebound began (OGJ Online, Jan. 13, 2017).
Oil-directed rigs increased 29 units to 551, up 235 since May 27. Gas-directed rigs rose 6 units to 142, up 61 since last Aug. 26 in their own resurgence. One rig considered unclassified remains operating.
Land-based rigs leaped 36 units to 670, which was slightly offset by a 1-unit decline in the US offshore count to 24.
Horizontal rigs jumped 22 units to 559, up 245 since May 27. Directional drilling rigs edged up a unit to 60.
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