The United State Oil Rig Count Increases for 6th Time in 7 Weeks

USA:  The United States oil & gas rig count rose by 7 this week, with Baker Hughes adding 6 more oil rigs to the count and one more gas rig, bringing the total operational rigs to 447. The Baker Hughes weekly rig count shows 357 oil rigs currently active in the U.S., along with 89 gas rigs active. The biggest gains were made in New Mexico, with 4 new rigs, and Louisiana, with 3 new rigs.

TechSci Research depicts that current nationwide rig count is recovering marginally in the USA. Continuing growth in oil & gas drilling and exploration activities in the US will result in an increase in number of rigs across the country, especially in the country’s southern region, thereby boosting the demand for oil & gas accumulators. In oil & gas industry, accumulators are used for multiple applications such as energy storage, pulsation dampening, absorbing shocks, maintaining pressure and distributing fluids under pressure.

According to a recent report published by TechSci Research, “United States Oil & Gas Accumulator Market Forecast & Opportunities, 2020”, the oil & gas accumulators market in the United States is projected to grow at a CAGR of over 6% during 2015-20. The BOP application segment accounts for the largest market share of the US oil & gas accumulator market. Bladder type accumulator is the most commonly used accumulator in United States. However, with increasing deep water drilling activities, the demand for piston type accumulators is also anticipated to increase in the coming years, on account of its high pressure handling capabilities.