Baker Hughes US Land Weekly Rig Report - Jan 22 2021

This week, the Baker Hughes US Land Rig Count increased 5 rigs to finish at 359 active rigs. The ArkLaTex, MidCon, Northeast and Bakken each added 1 rig while the Permian lost 1 rig. Alaska added 2 rigs this week as winter operations increased.

While the cancelation of the Keystone Pipeline permit is devastating to the pipeline workers, it should have a very limit impact on US Land oil and gas operations. The Keystone Pipeline was intended to bring heavy crude from Western Canada to refineries on the Gulf Coast. The refineries will continue to get supplies from existing pipelines, rail shipments or from international destinations.

Figure 1 -  Baker Hughes US Land Rig Count - Jan 22 2021
(Source: Baker Hughes)

Table 1 -  Baker Hughes US Land Rig Count by State - Jan 22 2021
(Source: Baker Hughes)