Active Well Servicing Metric Keeps Growing
The well servicing rig count continued to rise in May of this year, the Houston-based Energy Workforce & Technology Council reported last week.
The number of active well service rigs hit 950 rigs in May 2021, reflecting a 1.5% monthly increase and the highest total since the onset of the COVID-19 pandemic in March 2020, the Council stated on its website.
“While the active well service rig count has more than doubled since a pandemic-low of 456 in April 2020, the number remains 9.2% below the February 2020 total of 1,046 rigs,” wrote Kevin Broom, the Council’s director of communications and research. “In May, the sector added 19 rigs on the West Texas/Permian area, eight in the West Coast/Alaska region, and four in the Mid-Continent.”
According to the Council, the rig utilization rate from April to May 2021 increased from 37% to 39%, respectively. In contrast, rig utilization fell to 17% during the corresponding period in 2020, the organization observed. To be sure, Broom also pointed out the latest utilization figure remains below the approximately 45% pre-pandemic norm.
Below is a detailed table of the Council’s latest rig counts and utilization rates by area.
The Council noted that it compiles its monthly rig count from data submitted by North American oil and gas production and servicing companies.
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