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US Horizontal Rig Activity Continues to Trend Higher Despite Data Volatility, TPH Energy Says

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US land drilling activity increased last week as horizontal rig activity continued to trend higher despite weekly data volatility, TPH Energy said in a Monday note.

The Enverus US land rig count rose by 4 week over week to 614 rigs, compared with a 10-rig increase in the Baker Hughes (BKR) count to 561. Over the past four weeks, Enverus added 6 rigs while Baker Hughes gained 5, TPH said.

Horizontal drilling increased by 3 rigs as a decline of 6 public rigs was more than offset by a gain of 9 private rigs, the company added. TPH attributed the apparent weakness among public operators to fluctuations in data caused by top-hole rigs and well-classification issues.

Outside the US Energy Information Administration regions, drilling activity increased by 6 rigs, while the Anadarko basin posted the largest weekly decline at 3 rigs, TPH said. The company attributed the increase outside the reporting regions to rigs crossing regional boundaries and lower-quality rigs spudding horizontal wells.

In the Gulf of Mexico, offshore activity declined by one floater and one jackup, leaving 16 floaters and three jackups operating, the company said.

Canadian drilling activity increased by 10 rigs week over week to 194, compared with 139 rigs working during the same period last year, according to TPH Energy.

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