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Bakken Shale Analysis (Part 1): Rig Market Share by Driller
An overview of active drillers and exploration projects in the Bakken Shale (ND), January 2012
Bakken Shale Active Rig Analysis as of 1/15/2012
Sources: http://www.bakkenblog.com/ | North Dakota Department of Mineral Resources | Baker-Hughes International
Don’t miss Part 2 of our analysis, Bakken shale, confidential well permit holders by operator (Coming January 18th!)
Summary:
200 active rigs in Bakken = 10% of 1,987 total US deployed rigs
1701 existing well permits have been issued
Drilling market share leaders in Bakken = Nabors (24%), Helmerich & Payne (13%), Precision Drilling (10%), Ensign/Patterson UTI/Unit (each with 7%)
19 drillers with 5 or less rigs compose 26% of market (potential consolidation targets) share of actively deployed rigs by company in Bakken
Detail/Data Table:
Market Share by Driller | |||
Company | Number of Rigs deployed in Bakken | Bakken Mkt Share | % of company’s total fleet |
NBR | 47 | 24% | 9% |
HP | 26 | 13% | 10% |
PRECISION | 20 | 10% | 10% |
ENSIGN | 14 | 7% | 11% |
PTEN | 14 | 7% | 4% |
UNIT | 14 | 7% | 12% |
CYCLONE | 12 | 6% | 38% |
NOMAC | 9 | 5% | |
PIONEER | 7 | 4% | 12% |
MAJOR | 5 | 3% | |
CANELSON | 4 | 2% | |
STONEHAM | 4 | 2% | |
TRUE | 3 | 2% | |
SST | 3 | 2% | |
TRINIDAD | 3 | 2% | |
CRAIG | 2 | 1% | |
EXTREME | 2 | 1% | |
FRONTIER | 2 | 1% | |
KEY | 2 | 1% | |
DHS | 1 | 1% | |
FAITH | 1 | 1% | |
KEY | 1 | 1% | |
MBASIN | 1 | 1% | |
PARAMOUNT | 1 | 1% | |
UNIV DRLG | 1 | 1% | |
WESTERN | 1 | 1% | |
Total Result | 200 | ||
January 14, 2012