A significant shift in drilling depth is seen in a range of metrics provided in the latest issue of The Land Rig Newsletter’s Biweekly Report: a trend toward greater depths.
Rigs drilling to 10,000-14,999 ft rose to 641, a 47-unit increase from the previous Biweekly Report. The expansion was broadly based, as the top five companies added only 5 rigs to the overall increase. An offsetting downward trend was seen in rigs drilling to 5,000-9,999 ft. This class dropped 13 to 383 rigs. The trend to deeper drilling in the 10,000-14,999 ft depth range was expressed most strongly in two regions, the Rockies and Permian. In the Rockies this category’s tally rose to 144, 69% of the regional total. In the Permian, this depth range count rose to 183, 52% of the regional total.
The move to deeper drilling is also reflected in the horsepower tallies. Rigs with ratings of 500-1,999 hp now represent 84% of all active rigs. At the upper end of that range, the 1,000-1,999 hp group holds sway at 70% of the total active fleet.