CAVU Resources Inc (CAVR)

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North American Rotary Rig Counts
The U.S. rotary rig count was up 6 at 1,782 for the week of April 8, 2010. It is 306 rigs (20.7%) higher than last year.

The number of rotary rigs drilling for oil increased 9 to 886. There are 381 more rigs targeting oil than last year. Rigs drilling for oil represent 49.7% percent of all drilling activity.

Rigs directed toward natural gas were down 2 at 889. The number of rigs currently drilling for gas is 70 less than last year's level of 959.

Year-over-year oil exploration in the U.S. is up 75.4 percent. Gas exploration is down 7.3 percent. The weekly average of crude oil spot prices is 27.7 percent higher than last year and natural gas spot prices are 4.9 percent higher. Daily crude oil and natural gas futures and spot prices are available on our site.

Canadian rig activity was down 94 at 191 for the week of April 8, 2011 as the spring thaw set in and is 65 (51.6%) higher than last year's rig count. Canadian drilling falls rapidly in the spring to avoid environmental damage during the spring thaw and rainy season. With wide seasonal swings even year-over-year comparisons can lead to incorrect conclusions.



North American Rig Count
Change
Percent Change

04/08/2011 04/01/2011 04/09/2010 Weekly Annual Weekly Annual
Total U.S. 1,782 1,776 1,476 6 306 0.3% 20.7%
Offshore 28 27 54 1 (26) 3.7% -48.1%
Land 1,754 1,749 1,422 5 332 0.3% 23.3%
Inland Waters 19 20 15 (1) 4 -5.0% 26.7%
Oil 886 877 505 9 381 1.0% 75.4%
Percent 49.7% 49.4% 34.2% 0.3% 15.5%


Gas 889 891 959 (2) (70) -0.2% -7.3%
Percent 49.9% 50.2% 65.0% -0.3% -15.1%


Directional 230 228 225 2 5 0.9% 2.2%
Horizontal 1,009 1,017 749 -8 260 -0.8% 34.7%
Vertical 543 531 502 12 41 2.3% 8.2%
Gulf of Mexico 28 27 53 1 -25 3.7% -47.2%
Gulf Oil 8 6 28 2 -20 33.3% -71.4%
Percent 28.6% 22.2% 52.8% 6.3% -24.3%


Gulf Gas 20 21 25 -1 -5 -4.8% -20.0%
Percent 71.4% 77.8% 47.2% -6.3% 24.3%


Canada 191 285 126 (94) 65 -33.0% 51.6%
Oil 99 177 38 (78) 61 -44.1% 160.5%
Percent 51.8% 62.1% 30.2% -10.3% 21.7%


Gas 91 107 88 (16) 3 -15.0% 3.4%
Percent 47.6% 37.5% 69.8% 10.1% -22.2%


North America 1,973 2,061 1,602 (88) 371 -4.3% 23.2%

Monthly: International Rig Counts


International rig count, which excludes the US and Canada, decreased 62 to 1,147 for the month of March 2011 and is 73 rigs (6.8%) above last year's 1,074.
The total number of rotary rigs worldwide in March was 3,434 down 102 from February and 6.8 higher than last year.


Worldwide Rotary Rig Count Change
Percent Change

Mar. 2011 Feb. 2011 Mar. 2010 Monthly Annual Monthly Annual
Latin America 415 412 378 3 37 0.7% 9.8%
Europe 118 118 94 0 24 0.0% 25.5%
Africa 65 94 82 (29) (17) -30.9% -20.7%
Middle East 288 292 261 (4) 27 -1.4% 10.3%
Far East 261 273 259 (12) 2 -4.4% 0.8%
International 1,147 1,189 1,074 (42) 73 -3.5% 6.8%
Canada 567 629 386 (62) 181 -9.9% 46.9%
United States 1,720 1,718 1,419 2 301 0.1% 21.2%
World 3,434 3,536 2,879 (102) 555 -2.9% 19.3%

The Rig Count page will be updated as the data becomes available. US rotary and Canadian rig counts are updated weekly. International, world and workover rig counts are updated mid month. The oil price shown in all long term graphs and all but the short term graph of US and Canadian rotary rig counts is US average wellhead price. The price in the short term US and Canadian rotary rig count graphs is WTI spot.