USA Adds Multiple Rigs

The U.S. added several rigs week on week, according to Baker Hughes’ latest rotary rig count, which was published on April 8.

A total of 18 land rigs were added week on week, while two offshore rigs were dropped, bringing the total weekly U.S. rig additions to 16, Baker Hughes’ rig count highlighted. The U.S. rig count now stands at 689, comprising 675 land rigs, 12 offshore rigs and two inland water rigs, Baker Hughes’ count showed. Of the 689 total, 546 are classified as oil rigs, 141 are classified as gas rigs and two are classified as miscellaneous rigs.

Conversely, Canada’s rig count was shown to have dropped by 13 week on week, taking its total rig count to 111, comprising 53 oil rigs and 58 gas rigs. The total North America rig count rose by three rigs week on week to 800, according to Baker Hughes.

Looking at year ago figures, the U.S. rig count has risen by 257 rigs year on year. Oil rigs are said to account for 209 of these additions, with the remaining 48 coming in the form of gas rigs. Canada’s rig count has also increased by 53 compared to year ago figures, with 34 of these coming in the form of oil rigs and 19 as 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