North America Drops 43 Rigs Week on Week

North America Drops 43 Rigs Week on Week
The region's total rig count now stands at 676 rigs.

North America dropped 43 rigs week on week, according to Baker Hughes’ latest rotary rig count, which was published on December 31, 2021.

The region’s total rig count now stands at 676 rigs, comprising 586 rigs from the U.S. and 90 rigs from Canada, Baker Hughes highlights. Week on week, the U.S. rig count was shown to have stayed the same, with no rigs added or dropped, while Canada’s rig count was shown to have decreased by 43.

Of the total U.S. rig count of 586, 570 are land rigs, 15 are offshore rigs and one is an inland water rig, Baker Hughes’ data shows. The total U.S. rig count is made up of 480 oil rigs and 106 gas rigs, according to Baker Hughes, which also outlined that the U.S. currently has 530 horizontal rigs in operation, as well as 30 directional rigs and 26 vertical rigs.

Canada’s total rig count of 90 rigs comprises 51 gas rigs and 39 oil rigs, Baker Hughes’ latest rotary rig count revealed. The country dropped 45 oil rigs week on week but added two gas rigs, Baker Hughes’ data showed.

Baker Hughes’ previous rotary rig count, which was released on December 23, revealed that North America dropped 27 rigs week on week. While the U.S. was shown to have added seven rigs week on week in Baker Hughes’ previous rig count figures, Canada was shown to have decreased its rig count by 34 rigs during the same timeframe.

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


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