Baker Hughes reports well count for third quarter of this year

Baker Hughes Inc.

Baker Hughes Inc. (NYSE: BHI) reports that the US onshore well count for the third quarter of 2014 was 9,566 wells, up 110 wells or 1% compared to the second quarter of 2014. Compared to the third quarter of 2013, the well count was up 491 wells or 5%.

Compared to the second quarter of 2014, the well count increased most notably in the Williston (up 45 wells or 7%), Denver-Julesburg/Niobrara (up 30 wells or 10%), and Cana Woodford (up 18 wells or 28%) basins. This increase was partially offset by decreases in the Eagle Ford (down 27 wells or 2%), Ardmore Woodford (down 18 wells or 50%), and Mississippian (down 12 wells or 3%) basins.

The average US onshore rig count for the third quarter of 2014 was 1,842 rigs, up 46 rigs or 3% from the second quarter of 2014, and up 133 rigs or 8% from the third quarter of 2013. On average, the US onshore drilling efficiencies dropped to 5.19, due primarily to less wells per rig being generated in the Permian for the quarter.

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