Pantheon Resources Plc (PTHRF)

[doinit]

US drilling rig count up by 4 to 693
The Baker Hughes’ U.S. rotary drilling rig count was 693 on April 14, prior to
the Easter weekend, up by four from the previous week and up 254 from a count
of 439 a year ago.
When the count dropped to 244 in mid-August 2020 it was the lowest the
domestic rotary rig count has been since the Houston based oilfield services com-
pany began issuing weekly U.S. numbers in 1944.
Prior to 2020, the low was 404 rigs in May 2016. The count peaked at 4,530 in
1981.
The count was in the low 790s at the beginning of 2020, where it remained
through mid-March, when it began to fall, dropping below what had been the his-
toric low in early May with a count of
374 and continuing to drop through the
third week of August 2020 when it
gained back 10 rigs.
The April 14 count includes 548 rigs
targeting oil, up by two from the previous
week and up 204 from 344 a year ago,
with 143 rigs targeting gas, up by two
from the previous week and up 49 from
94 a year ago, and two miscellaneous
rigs, unchanged from the previous week and up by one from a year ago.
Thirty-two of the rigs reported April 14 were drilling directional wells, 636
were drilling horizontal wells and 26 were drilling verti