North America Rig Count Stays Flat

North America’s rig count stayed flat week on week, according to Baker Hughes’ latest rotary rig count, which was released on April 22.

While the U.S. added two rigs week on week, Canada dropped the same amount of rigs during the timeframe, causing the total number of rigs in North America to stay the same compared to week ago levels, Baker Hughes’ rig count showed. The total North America rig count is now said to stand at 796 rigs, comprising 695 from the U.S. and 101 from Canada.

Of the total U.S. rig count of 695, 682 rigs are shown to be land rigs and 13 are shown to be offshore rigs. These 695 rigs comprise 549 oil rigs, 144 gas rigs and two miscellaneous rigs, according to Baker Hughes. Of Canada’s total rig count of 101, 48 rigs are classified as oil rigs and 53 are classified as gas rigs.

Compared to year ago levels, North America has added 303 rigs, Baker Hughes’ figures show. The majority of these additions (257) came from the U.S., with 46 coming from Canada, Baker Hughes outlined in its latest rig count. Of the U.S. additions, 206 are shown to be oil rigs, 50 are shown to be gas rigs and one is shown to be a miscellaneous rig. Of the Canada additions, 31 are shown to be oil rigs and 15 are shown to be gas rigs.

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