USA Adds More Rigs

The U.S. added three rigs week on week, according to Baker Hughes’ latest rotary rig count, which was published on April 29.

The three weekly additions comprised two land rigs and one offshore rig, Baker Hughes showed. The country’s total rig count now stands at 698, comprising 684 land rigs and 14 offshore rigs, made up of 552 oil rigs, 144 gas rigs and two miscellaneous rigs, according to Baker Hughes.

Canada’s rig count was shown to have dropped six rigs week on week. This weekly drop took the country’s total rig count down to 95, comprising 45 oil rigs and 50 gas rigs, Baker Hughes outlined. The total North America rig count is now shown to stand at 793, which is three fewer rigs than week ago levels. Baker Hughes’ previous rig count, released on April 22, highlighted that North America’s rig count stayed flat week on week.

Looking at year ago figures, the U.S. rig count has grown by 258 rigs, comprising 210 oil rigs and 48 gas rigs, while Canada’s rig count has grown by 44 rigs, comprising 25 oil rigs and 19 gas rigs, according to Baker Hughes. North America’s total rig count is shown to have grown by 302 rigs year on year.

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