Baker Hughes Shows More Oil Rigs

Baker Hughes Shows More Oil Rigs
The U.S. rotary rig count increased by 13 this week, Baker Hughes Co. reported.

The U.S. rotary rig count increased by 13 to 430 drilling units this week, Baker Hughes Co. (NYSE: BKR) reported Thursday.

In its weekly count of operating rigs Baker Hughes noted the U.S. oil rig count rose by 13 and now totals 337. The U.S. gas rig count slipped by one to 91 and the number of miscellaneous rigs grew by one to two, the service company added.

Since this time last year, when 664 rigs were operating, the U.S. has shed 234 rigs, Baker Hughes noted. The firm stated the year-on-year figures reflect a 225-unit decrease in oil rigs, a nine-unit decline in gas rigs, and no change in the number miscellaneous rigs (two). It added the U.S. offshore rig count increased by two this week to 14 – compared to 18 a year ago.

Canada shed 12 rigs to end the week at 69 units, Baker Hughes continued. The net loss includes a seven-unit decrease in oil rigs, which now total 24, and a five-unit decrease in gas rigs (to 45), the company added.

Year-over-year, Canada’s rig count is up 28 units from 41, Baker Hughes stated. The firm pointed out that Canada has posted increases of 15 oil and 13 gas rigs since this time in 2020.

Baker Hughes obtains its working rig location information in part from Enverus, which produces daily rig counts using GPS tracking units.

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