U.S. oil & gas rigs in use per month 2022 | Statista (2024)

FAQs

U.S. oil & gas rigs in use per month 2022 | Statista? ›

Oil rigs are the most common rigs in the U.S. At the end of 2022, there were some 621 active oil rigs compared with roughly 156 gas rigs. This discrepancy has been exacerbated over the years, with there being a less pronounced difference in 2011.

US Rig Count is at a current level of 696.00, down from 711.00 last week and down from 727.00 one year ago. This is a change of -2.11% from last week and -4.26% from one year ago. US Rig Count, displays the number of active drilling rigs throughout the United States.

US Oil Rig Count is at a current level of 555.00, down from 570.00 last week and down from 574.00 one year ago. This is a change of -2.63% from last week and -3.31% from one year ago. The US Oil Rig Count measures the number of oil rigs functioning in the United States.

In 2022, U.S. crude oil production averaged an estimated 11.9 million b/d. Increased production in the Permian region and, to a lesser extent, in the Federal Offshore Gulf of Mexico (GOM) drives our forecast growth in production.

U.S. won't reach a new record in oil production 'ever again,' says Pioneer Natural Resources CEO. Pioneer Natural Resources CEO Scott Sheffield says refining capacity and inventory issues means the oil industry won't be able to grow U.S. production much higher than it already is.

Baker Hughes reports 720 active drilling rigs in the US.

The largest number of oil rigs are located in the Gulf Of Mexico and owned by the US government, followed by the Persian Gulf and the Far East. With advancements in the energy sector and maritime engineering, such structures have been built to withstand the toughest conditions while reducing their environmental impact.

Texas Rig Count is at a current level of 353.00, down from 359.00 last week and down from 358.00 one year ago.

Basic Info. North Dakota Inland Rig Count is at a current level of 36.00, down from 37.00 last week and unchanged from 36.00 one year ago. This is a change of -2.70% from last week.

Texas is by far the largest oil-producing state in the United States. In 2021, Texas produced a total of 1.7 billion barrels. In a distant second place is New Mexico, which produced 459.8 million barrels in the same year.

Why can't the US drill more oil? ›

The reason that U.S. oil companies haven't increased production is simple: They decided to use their billions in profits to pay dividends to their CEOs and wealthy shareholders and simply haven't chosen to invest in new oil production.

There are three reasons for the decelerating production: declining productivity of wells, the conservative investment strategy of producers amid a shift in focus to capital discipline, and the rising cost of oilfield services.

Oil Reserves in the United States

The United States has proven reserves equivalent to 4.9 times its annual consumption. This means that, without imports, there would be about 5 years of oil left (at current consumption levels and excluding unproven reserves).

U.S. gas production increased to a record 5,984 billion cubic feet in the first two months of 2023, up from 5,600 billion cubic feet in the same period in 2022, an increase of almost 7%.

U.S. crude oil production averaged 11.3 million barrels per day (b/d) in 2020, down 935,000 b/d (8%) from the record annual average high of 12.2 million b/d in 2019. The 2020 decrease in production was the largest annual decline in the U.S. Energy Information Administration's records.

The U.S. rig count has dropped from a high of 1930 in late 2014 to 502 last month. U.S. crude production continued to climb until mid-2015. Since then, it has dropped from 9.6 mmb/day to 9.2 mmb/day. It may come as a surprise to some that the average daily oil production per well in Texas is only 16 barrels.

The current highest oil platform is the Petronius platform operated by Chevron Corporation and Marathon Oil in the Gulf of Mexico, 210 km southeast of New Orleans, United States.

Where U.S. crude oil is produced. Crude oil is produced in 32 U.S. states and in U.S. coastal waters. In 2021, about 71% of total U.S. crude oil production came from five states. In 2021, about 15.2% of U.S. crude oil was produced from wells located offshore in the federally administered waters of the Gulf of Mexico.

Key Takeaways

Industry leader BP plc estimates that there are 1.73 trillion barrels of oil reserves globally. Approximately 80% of the world's oil reserves are in the Organization of the Petroleum Exporting Countries (OPEC).

Who owned 90% of the oil industry? ›

By the late 1880s, Standard Oil controlled 90% of American refineries.

Venezuela - 303.806 Billion Barrels

Venezuela holds the largest oil reserves globally, with over 300 billion barrels mainly located in the Orinoco Belt at the southern end of the eastern Orinoco River Basin.

How much does an Oil Rig make in Texas? As of Jun 2, 2023, the average annual pay for the Oil Rig jobs category in Texas is $62,703 a year.

Basic Info. Oklahoma Inland Rig Count is at a current level of 51.00, unchanged from 51.00 last week and down from 57.00 one year ago. This is a change of 0.00% from last week and -10.53% from one year ago.

Basic Info. New Mexico Inland Rig Count is at a current level of 107.00, down from 108.00 last week and up from 98.00 one year ago. This is a change of -0.93% from last week and 9.18% from one year ago.

US rig count totals 650; 51 in Oklahoma.

Texas Now Produces More Oil Than Every Country in the World Besides Russia, Saudi Arabia, and Iraq.

Alaska ranks sixth behind Texas, North Dakota, New Mexico, California, and Oklahoma in daily oil production.

What 2 US states have the largest petroleum reserves? ›

Crude oil imports of about 6.28 million b/d accounted for about 75% of U.S. total gross petroleum imports, and non-crude oil petroleum accounted for about 25% of U.S. total gross petroleum imports. In 2022, the United States exported about 9.58 million b/d of petroleum to 180 countries and 4 U.S. territories.

Drilling in the refuge could damage a third of the rapidly shrinking denning grounds of endangered polar bears, and the winter grounds of the Porcupine caribou herd, which serve as an integral resource – physically and culturally – for the Gwich'in people. The world is moving away from fossil fuels.

New refineries are unlikely to be built in the United States due to daunting environmental standards and policies that the Biden administration has been implementing to reduce petroleum product consumption in the future. Shockingly high prices for energy is the outgrowth of those policies.

Offshore oil and gas in the United States provides a large portion of the nation's oil and gas supply. Large oil and gas reservoirs are found under the sea offshore from Louisiana, Texas, California, and Alaska.

Global consumption of oil is currently estimated at roughly 96.5 million barrels per day. According to OPEC, global demand is expected to reach 109 million barrels per day. Estimations vary slightly, but it is predicted that - if demand forecasts hold - we will run out of oil from known reserves in about 47 years.

The most recent EIA projections are that U.S. crude oil production is expected to increase to new records in 2023 and 2024. The EIA forecasts that U.S. crude oil production will average 12.4 million bpd in 2023 and 12.8 million bpd in 2024.

According to the U.S. Energy Information Administration's (EIA) International Energy Outlook 2021 (IEO2021), the global supply of crude oil, other liquid hydrocarbons, and biofuels is expected to be adequate to meet the world's demand for liquid fuels through 2050.

What US state has the most oil wells? ›

Texas is by far the largest oil-producing state in the United States. In 2021, Texas produced a total of 1.7 billion barrels. In a distant second place is New Mexico, which produced 459.8 million barrels in the same year.

Oil and gas rights offshore are owned by either the state or federal government and leased to oil companies for development. The tidelands controversy involve the limits of state ownership. Although oil and gas laws vary by state, the laws regarding ownership prior to, at, and after extraction are nearly universal.

Prudhoe Bay Oil Field is a large oil field on Alaska's North Slope. It is the largest oil field in North America, covering 213,543 acres (86,418 ha) and originally contained approximately 25 billion barrels (4.0×10⁹ m³) of oil.

The average Oil Rig salary in the United States is $53,332 as of May 25, 2023, but the salary range typically falls between $45,619 and $65,001.

Importantly, all of these jobs are paid between $47,650 (89.2%) and $83,463 (156.2%) more than the average Oil Rig salary of $53,423. If you're qualified, getting hired for one of these related Oil Rig jobs may help you make more money than that of the average Oil Rig position.

Most oil rigs have worker bunker beds; some even offer private rooms. Showers and washrooms are also shared among the staff.

The reason that U.S. oil companies haven't increased production is simple: They decided to use their billions in profits to pay dividends to their CEOs and wealthy shareholders and simply haven't chosen to invest in new oil production.