N. American Rig Count Falls by 34 Week on Week
The North America rig count is down 34 rigs from the previous week to 996, with oil rigs up four to 67, gas rigs down one at 109, and miscellaneous rigs unchanged at two, according to the latest numbers from Baker Hughes.
Year on year, the North America rig count is down 220 rigs from last year's 1,216, with oil rigs down 152, gas rigs down 84, and miscellaneous rigs up two to two.
The offshore rig count is up one to 23 and also up one rig year-over-year, according to Baker Hughes.
Meanwhile, in Canada the rig count dropped 37 rigs from last week to 203, with oil rigs down 29 to 134 and gas rigs down eight to 69. The region is up 14 total rigs from last year's 189, with oil rigs up 16 and gas rigs down two.
The Permian now has 415 active rigs, which accounts for more than half of the total of active rigs in the U.S.
Meanwhile, the international rig count for February 2020 was 1,085, climbing 7 from the 1,078 reported in January 2020, and up 58 from the 1,027 counted in February of last year. The international offshore rig count for February totaled 245, flat from January of this year, and down 5 from the 250 counted in February 2019.
The average U.S. rig count for February 2020 was 791, flat from the 791 counted in January 2020, and down 258 from the 1,049 counted in February 2019. The average Canadian rig count for the month was 249, up 45 from the 204 counted in January, and up 19 from the 230 counted in February 2019.
Worldwide, the rig count for February 2020 was 2,125, up 52 from the 2,073 counted in January 2020, and down 181 from the 2,306 counted in February 2019.
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