Baker Hughes USA Rig Count Swings to Gain

Baker Hughes USA Rig Count Swings to Gain
The USA rig count returned to a growth mode this week.

A week after posting a one-unit decline, the U.S. rotary rig count increased by nine to 411 this week, Baker Hughes Co. (NYSE: BKR) reported Friday.

In its weekly count of operating rigs Baker Hughes noted that all nine of the additional U.S. drilling units are oil rigs, now totaling 318. The U.S. gas and miscellaneous rig tallies remained flat at 92 and one, respectively, the service company added.

Since this time last year, when 772 rigs were operating, the U.S. has shed 361 rigs, Baker Hughes noted. The firm stated the year-on-year figures reflect a 346-unit decrease in oil rigs, a 14-unit decline in gas rigs, and a one-unit drop miscellaneous rigs. It added the U.S. offshore rig count held steady at 13 this week – compared to 19 a year ago.

Canada dropped 24 rigs, closing out the week at 92 units, Baker Hughes continued. The country’s count of active oil rigs fell by 17 and now totals 41, the company added. Canada’s gas rig count decreased by seven to 51.

Compared to this time in 2020, Canada’s rig count is down by a net six units, Baker Hughes stated. The firm pointed out that Canada has shed 11 oil rigs and gained five gas rigs since then.

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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