North America Drops Rigs

North America Drops Rigs
North America dropped three rigs week on week.

North America dropped three rigs week on week, according to Baker Hughes’ latest rotary rig count, which was published on August 12.

One of the dropped rigs came from the U.S. and the other two came from Canada, the rig count showed. The U.S. dropped three miscellaneous rigs and one gas rig, and added three oil rigs, during the period, while Canada dropped three oil rigs and added one gas rig, Baker Hughes’ count outlined.

The total U.S. rig count now stands at 763, comprising 742 land rigs, 18 offshore rigs and three inland water rigs, according to Baker Hughes, which showed that, of this total rig count, 601 rigs are classified as oil rigs, 160 are classified as gas rigs and two are classified as miscellaneous rigs. Of Canada’s total rig count of 201, 137 are classified as oil rigs and 64 are classified as gas rigs.

North America’s total rig count of 964 has grown by 299 rigs year on year, Baker Hughes’ figures show. Of these additional rigs, 262 came from the U.S. and 37 came from Canada, the rig count highlighted. The U.S. has added 203 oil rigs, 58 gas rigs and one miscellaneous rig compared to year ago figures, while Canada has added 37 oil rigs and one gas rig, and dropped one miscellaneous rig, compared year ago figures, the rig count revealed.

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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