Baker Hughes Posts Lower US Rig Count

Baker Hughes Posts Lower US Rig Count
The U.S. rotary rig count fell by five over the past week.

The U.S. rotary rig count fell by five over the past week to hit the 253-unit mark, Baker Hughes Co. reported Friday.

In its weekly count of operating rigs, Baker Hughes noted that 180 of the U.S. drilling units were oil rigs – down one from last week. The number of U.S. gas rigs dropped by four to 71 and the miscellaneous rig count held steady at two, the service company added.

Since this time last year, when 954 rigs were operating, the U.S. has shed 701 rigs, Baker Hughes noted. The firm stated the year-on-year figures reflect a 599-unit decrease in oil rigs, a 103-unit decline in gas rigs and a one-unit increase in miscellaneous rigs. It added the U.S. offshore rig count stood at 12 again this week, reflecting a 14-unit decrease from a year ago.

Canada gained six rigs, closing out the week at 32 units, Baker Hughes continued. All six of the drilling units picked up during the past week are gas rigs, which now total 26, the company added.

Compared to this time in 2019, Canada’s rig count is down by 86, Baker Hughes stated. The firm pointed out that Canada has shed 77 oil and nine gas rigs since then.

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