North America Ends Rig Gain Run

North America Ends Rig Gain Run
North America dropped one rig week on week.

North America dropped one rig week on week, according to Baker Hughes’ latest rig count, which was published on September 30.

Although the U.S. added one rig week on week, Canada dropped two rigs in the same timeframe, pushing the overall North America count down, Baker Hughes outlined in its latest count. The total North America rig count now stands at 978, comprising 765 U.S. rigs and 213 Canada rigs, Baker Hughes’ count showed.

The total U.S. rig count of 765 is made up of 745 land rigs, 16 offshore rigs and four inland water rigs, comprising 604 oil rigs, 159 gas rigs and two miscellaneous rigs, according to Baker Hughes. Canada’s rig count comprises 144 oil rigs and 69 gas rigs, Baker Hughes revealed. 

Baker Hughes’ latest count shows that North America has added 285 rigs year on year, with 237 of those coming from the U.S. and 48 coming from Canada. The 237 U.S. additions comprised 176 oil rigs, 60 gas rigs and one miscellaneous rig, while the 48 Canada additions comprised 47 oil rigs and one gas rig, according to Baker Hughes.

In its previous rig count, Baker Hughes outlined that North America added five rigs week on week. In the rig count before that, the company revealed that North America added 10 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.

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