Baker Hughes Shows More Oil Rigs

Baker Hughes Shows More Oil Rigs
Oil rig counts increased in the US and Canada this week.

The U.S. rotary rig count increased by six to 384 drilling units this week, Baker Hughes Co. (NYSE: BKR) reported Friday.

In its weekly count of operating rigs Baker Hughes noted that all six of the additional U.S. drilling units are oil rigs, a subset that now totals 295. The U.S. gas and miscellaneous rig tallies remained flat at 88 and one, respectively, the service company added.

Since this time last year, when 790 rigs were operating, the U.S. has shed 406 rigs, Baker Hughes noted. The firm stated the year-on-year figures reflect a 380-unit decrease in oil rigs, a 24-unit decline in gas rigs, and a two-unit drop in miscellaneous rigs. It added the U.S. offshore rig count held steady at 16 this week – compared to 21 a year ago.

Canada gained two rigs, closing out the week at 174 units, Baker Hughes continued. Both of the additional units are oil rigs, which now total 98, the company added. Canada’s gas rig count remained flat at 76.

Compared to this time in 2020, Canada’s rig count is down 73, Baker Hughes stated. The firm pointed out that Canada has shed 59 oil and 14 gas rigs since then.

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

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