Baker Hughes sees drilling efficiency increase

U.S. drilling efficiency improving, Baker Hughes says.
By Daniel J. Graeber Follow @dan_graeber Contact the Author   |  April 11, 2014 at 10:20 AM
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HOUSTON, April 11 (UPI) -- Drilling efficiency overall in the United States is 3 percent better than it was at this time last year, oil services company Baker Hughes said Friday.

Baker Hughes published its quarterly onshore well count for the United States. It said the number of wells tallied in the first quarter was down 230, or 3 percent, when compared with fourth quarter 2013. Year-on-year, however, the well count was up 4 percent and rig efficiency was improving.

"Due to improved drilling efficiencies, the average U.S. onshore drilling rig now produces 3 percent more wells compared to the same quarter last year," it said.

Well counts were down in the Eagle Ford and Barnett shale basins in Texas, the Marcellus shale play in the eastern United States and the Williston shale area of the Northern Plains. Decreases, Baker Hughes said, were offset by gains in the Permian basin, which straddles the border between Texas and New Mexico.

In its latest assessment, the U.S. Energy Information Administration said more than 90 percent of the active rigs were spinning onshore. More than 80 percent were targeting crude oil reserves.

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