North America Drops Rigs

North America dropped three rigs week on week, according to Baker Hughes’ latest rotary rig count, which was published on February 17.

Canada was shown to have dropped two rigs and the U.S. was shown to have dropped one rig, week on week, in the count, which highlighted that the total North America rig count now stands at 1,008.

The U.S. makes up 760 of this total, comprising 741 land rigs, 17 offshore rigs, and two inland water rigs, according to Baker Hughes’ latest count. Of the total U.S. rig count, 607 rigs are categorized as oil rigs, 151 are categorized as gas rigs, and two are categorized as miscellaneous rigs. Canada’s total rig count stands at 248, with 163 oil rigs and 85 gas rigs, Baker Hughes’ count outlined.

North America has added 143 rigs year on year, according to the Baker Hughes rig count, which revealed that the U.S. drove these additions with a 115 rig increase, while Canada added 28 rigs. The U.S. additions were shown to comprise 87 oil rigs, 27 gas rigs, and one miscellaneous rig. Canada’s additions comprised 28 oil rigs, according to Baker Hughes.

In its previous rig count, which was published on February 10, Baker Hughes revealed that the total U.S. rig count increased by two week on week and the total Canada rig count increased by one 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