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The Baker Hughes Well Count is a natural extension of the Baker Hughes Rig Count, which has provided key activity data for more than 70 years. The index provides key U.S. onshore well count data to the oil and gas industry.
As new technologies and methodologies are introduced to the unconventional market, there is a continual evolution of drilling efficiencies, which can be difficult to measure. The Baker Hughes Well Count provides a greater understanding of key market forces, capturing the number of wells that were spud in each major U.S. basin.
Not only does the Baker Hughes Well Count provide a unique perspective of oilfield activity, but when combined with the Baker Hughes Rig Count, drilling efficiencies can be tracked by basin.
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Well Count FAQs
The Baker Hughes Well Count is a quarterly census of the number of new onshore oil and gas wells that were spud in the U.S. The well count includes wells that are identified to be significant consumers of oilfield services and supplies. The well count does not include wells categorized as workover, plugged and abandoned or completed.
Baker Hughes leverages more than 70 years of experience, collecting and analyzing critical oilfield data. The process includes the use of field representatives who maintain frequent contact with operating rigs in their district and monitor state agency data.
The Baker Hughes Well Count is published in an Excel file that is downloadable from our website at www.bakerhughes.com/wellcount. This file contains the well count for onshore U.S. and is presented in two different tabs within the workbook. The first tab is a summary of the current quarter onshore well count for the U.S by major U.S. basins, as well as for areas not identified by a basin, and in total. Comparisons to the prior quarter and prior year are also presented. The second tab is a more detailed presentation of the U.S. onshore well count for each major basin by quarter dating back to Q1 2012. Also presented are the corresponding U.S. rig counts for each basin and in total for the periods presented. Lastly, we provide a calculation of wells per rig by basin and in total for the U.S. for the periods presented.
The Baker Hughes Well Count leverages more than 70 years of experience, measuring and analyzing oilfield metrics, and incorporates data collected by a global network of field representatives. Additionally, the well count includes only those wells that are identified as significant consumers of oilfield services and supplies.
Well count trends are governed by oil company exploration and development spending, which in turn is influenced by the current and expected price of oil and natural gas. Well counts therefore reflect the strength and stability of energy prices. However, there are many other factors at work, including new technologies, weather, seasonal spending, changes to local regulations, etc.
Subject to the Terms and Conditions of the website, Baker Hughes grants the public permission to use the information and any copyrighted expression on this Well Count website, including downloads, provided that Baker Hughes is cited as the source of the information.
The basin mapping is the same on both the Baker Hughes Well Count and Rig Count. Baker Hughes defines a basin by identifying specific counties that are conventionally considered to encompass that geology.
The “Others” category contains basins that are much smaller in size and geographies that do not fall within a specific basin.
Currently, the Baker Hughes Well Count is only available by major basin and in total for U.S. land.
The Baker Hughes Well Count is published quarterly on the second Friday of January, April, July and October.
The Baker Hughes Well Count includes data beginning in Q1 2012.
Due to the short time frame between the end of the quarter and our publish date (second Friday after quarter end), the most recent quarter’s well count data should be considered preliminary and subject to revision as final statistics are accumulated and analyzed. Historical well count data may be revised at any time.