Baker Hughes announces second quarter 2014 well count

July 14, 2014

Baker Hughes Incorporated (NYSE:BHI) announced today that the U.S. onshore well count for the second quarter 2014 was 9,394 wells, up 428 wells or 5% compared to the first quarter 2014. Compared to the second quarter 2013, the well count was up 383 wells or 4%.

Compared to the first quarter 2014, the well count increased most notably in the Permian basin (up 265 wells or 11%), Marcellus (up 78 wells or 16%), and Granite Wash (up 31 wells or 23%) basins. This increase was slightly offset by decreases predominately in the Barnett (down 57 wells or 18%) and Cana Woodford (down 23 wells or 26%).

The average US onshore rig count for the second quarter 2014 was 1,796 rigs, up 72 rigs or 4% from the first quarter 2014 and up 87 rigs or 5% from the second quarter 2013. On average, the US onshore rig fleet produced 5.23 new wells during the quarter, which represents a slight improvement in drilling efficiencies compared to the same quarter in 2013.

Source: Baker Hughes, 2014.