North America Adds 50+ Rigs Week on Week

North America added 53 rigs week on week, according to Baker Hughes’ latest rotary rig count, which was released on January 7.

The region’s total rig count now stands at 729, comprising 588 rigs from the U.S. and 141 rigs from Canada, Baker Hughes’ data shows. Week on week, the U.S. was shown to have added two rigs while Canada was shown to have added 51 rigs. This time last year, the total North America rig count stood at 477 rigs, Baker Hughes’ figures highlighted.

Of the current total rig count in the U.S. of 588, 570 are land rigs, 16 are offshore rigs, and two are inland water rigs, according to Baker Hughes’ latest rig count. The country is currently said to have 481 oil rigs and 107 gas rigs. Compared to this time last year, the U.S. has increased its rig county by 228, adding 206 oil rigs and 23 gas rigs, and dropping one miscellaneous rig, Baker Hughes outlined in its count.

Canada’s total rig count of 141 comprises 78 oil rigs and 63 gas rigs, Baker Hughes rig count showed. The country’s total rig count at this time last year stood at 117, comprising 53 oil rigs and 64 gas rigs, Baker Hughes highlighted.

Baker Hughes, which has issued the rotary rig counts to the petroleum industry since 1944, describes the figures as an important business barometer for the drilling industry and its suppliers. The company obtains its working rig location information in part from Enverus, which produces daily rig counts using GPS tracking units.

To contact the author, email andreas.exarheas@rigzone.com