Baker Hughes US Land Weekly Rig Report - July 2 2021

This week, the Baker Hughes US Land Rig Count increased by 5 rigs to finish at 459 active rigs. The DJ Basin added 2 rigs while the Bakken, Permian and Northeast each added 1 rig.

After their long slumber, the Bakken and the DJ Basin have both added rigs in the last couple of weeks. While this increase in activity isn't close to a return to normal, it's nice to see some activity return to the area. Figure 2 shows the Bakken and DJ Rig Count from 2018 to today. The DJ Basin reached a high of 32 rigs in early 2019 while the Bakken averaged nearly 55 rigs from mid-2018 to late 2019. With consolidation in the DJ and reduced Tier 1 acreage in the Bakken, there should be not expectation that we will return to these levels.

Figure 1: Baker Hughes US Land Weekly Rig Count - July 2 2021
(Source: Baker Hughes)

Table 1: Baker Hughes Weekly US Land Rig Count by State - July 2 2021
(Source: Baker Hughes)

Figure 2: Bakken and DJ Basin Rig Count since 2018
(Source: Baker Hughes)