North America Adds 63 Rigs Week on Week

North America’s rig count increased by 63 week on week, according to Baker Hughes’ latest rotary rig count, which was published on January 14.

The region’s rig count now stands at 792, comprising 601 rigs from the U.S. and 191 rigs from Canada, Baker Hughes’ rig count outlines. Of the 63 weekly additions, 50 are shown to have come from Canada and 13 from the U.S. Compared to year ago figures, North America has added 258 rigs, Baker Hughes’ data highlights.

The total U.S. rig count figure of 601 comprises 581 land rigs, 18 offshore rigs and two inland water rigs, broken down into 492 oil rigs and 109 gas rigs, Baker Hughes’ latest count reveals. This time last year, the total U.S. rig count stood at 373, comprising 287 oil rigs, 85 gas rigs and one miscellaneous rig, according to Baker Hughes. Canada’s total rig count figure of 191 is made up of 121 oil rigs and 70 gas rigs. This time last year, the country’s rig count stood at 161, comprising 90 oil rigs and 71 gas rigs, Baker Hughes’ figures show.

Baker Hughes’ previous rig count, which was released on January 7, showed that North America’s rig count had increased by 53 rigs week on week. This rig count outlined that the U.S. had added two rigs and Canada had added 51 rigs week on week.

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