USA Drops Rig

USA Drops Rig
The U.S. dropped one rig week on week.

The U.S. dropped one rig week on week, according to Baker Hughes’ latest rotary rig count, which was published on August 19.

Following the decrease, the total U.S. rig count now stands at 762, comprising 741 land rigs, 18 offshore rigs and three inland water rigs, Baker Hughes’ count shows. Of the total U.S. rig count of 762, 601 rigs are classified as oil rigs, 159 are classified as gas rigs, and two are classified as miscellaneous rigs.

Canada’s rig count stayed the same week on week at 201 rigs, Baker Hughes’ rig count revealed. Of Canada’s total 201 rig count, 137 rigs are classified as oil rigs and 64 rigs are classified as gas rigs. The total North America rig count is shown to be 963 rigs.

Compared to year ago figures, North America has added 304 rigs, comprising 259 from the U.S. and 45 from Canada, according to Baker Hughes. The U.S. rig additions are shown to comprise 196 oil rigs, 62 gas rigs, and one miscellaneous rig, while Canada is shown to have added 42 oil rigs and four gas rigs, and dropped one miscellaneous rig.

Baker Hughes’ previous rig count showed that the U.S. dropped one rig and Canada dropped two 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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