USA Drops Rigs

USA Drops Rigs
The U.S. rig count dropped week on week.

The U.S. rig count dropped by three week on week, according to Baker Hughes’ latest rotary rig count, which was published on August 5.

Baker Hughes’ latest count showed that the U.S. dropped two inland water rigs and one offshore rig week on week. The losses took the total U.S. rig count to 764 rigs, comprising 746 land rigs, 16 offshore rigs, and two inland water rigs, Baker Hughes’ count highlighted. Of the total U.S. rig count of 764, 598 are classified as oil rigs, 161 are classified as gas rigs, and five are classified as miscellaneous rigs.

Canada’s rig count also dropped by one week on week, according to Baker Hughes, which showed that the country’s total rig figure now stands at 203, comprising 140 oil rigs and 63 gas rigs. North America’s total rig count is now 967, Baker Hughes pointed out.

North America has added 320 rigs compared to year ago figures, with 273 of these coming from the U.S. and 47 coming from Canada, Baker Hughes outlined. The U.S. has added 211 oil rigs, 58 gas rigs, and four miscellaneous rigs compared to year ago figures, while Canada has added 45 oil rigs and three gas rigs, and dropped one miscellaneous rig, compared to year ago levels, Baker Hughes highlighted.

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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