US land drilling activity sent mixed signals last week, with the Enverus rig count falling while Baker Hughes data showed a modest increase, TPH Energy Research analyst Jeff Leblanc said in a Tuesday note.
Enverus reported a decline of five rigs week over week to 638, although the trailing four-week average remained up three rigs. Baker Hughes, meanwhile, reported a one-rig increase to 571, with its trailing four-week average also up one rig.
According to Enverus, horizontal drilling activity fell by one rig week over week. Declines among publicly traded producers totaled three rigs and were largely offset by gains among private operators.
Regional activity was mixed, with the largest moves occurring outside the Permian Basin. The Eagle Ford and Appalachia each lost three rigs, while the Niobrara and Anadarko each added two.
The data also point to elevated rig churn and increased volatility in weekly counts, particularly in Appalachia, where recent fluctuations have underscored the data's choppiness.
In Canada, drilling activity declined by seven rigs week over week to 203, but remained well above year-ago levels, with 179 rigs active at the same time last year.