North America Drops 27 Rigs Week on Week

North America Drops 27 Rigs Week on Week
The region's total rig count now stands at 719.

North America dropped 27 rigs week on week, according to Baker Hughes’ latest rotary rig count, which was released on December 23.

The region’s total rig count now stands at 719, comprising 586 rigs from the United States and 133 rigs from Canada, Baker Hughes highlights. While the U.S. was shown to have added seven rigs week on week, Canada was shown to have decreased its rig count by 34 rigs during the same timeframe. Compared to year ago figures, North America has added 289 rigs, comprising 238 rigs from the U.S. and 51 rigs from Canada, Baker Hughes outlines.

Of the current total U.S. rig count of 586, 570 are land rigs, 15 are offshore rigs and one is an inland water rig, according to Baker Hughes, which revealed that the country has 480 oil rigs and 106 gas rigs. This time last year, the U.S. rig count stood at 348, comprising 329 land rigs, 17 offshore rigs and two inland water rigs, Baker Hughes’ rig count pointed out. Canada’s 133 rig total was shown to comprise 84 oil rigs and 49 gas rigs. This time last year, the country’s rig count stood at 82, consisting of 51 gas rigs and 31 oil rigs, Baker Hughes’s rig count 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.

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