1st Quarter 2020 US Drilling Rig Summary
Last Friday, Baker Hughes released the 13th week of drilling rig data closing the first quarter of 2020. It was a quarter few of us will forget.
Changes Week 1 to Week 13
All US Rigs -68
US Horizontal Rigs -48
US Hz Gas Rigs -16
US Hz Oil Rigs -32
Over the 13 weeks, WTI Oil price dropped $48 and Henry Hub spot price dropped $0.36.
The county with the biggest change over the quarter was Reeves Co., TX dropping 12 horizontal rigs for a total of 29 active rigs.
Below is a video showing a 3D map representing the quarterly change. The height is based on the change in rig count and the color represents the current number of rigs. To use the map visit https://www.mudrockenergy.com/map001.
Note, the active visualization does not work on most IOS devices.