USA Drops Rigs

USA Drops Rigs
The U.S. dropped four rigs week on week.

The U.S. dropped four rigs week on week - three offshore rigs and one land rig - according to Baker Hughes’ latest rotary rig count, which was released on January 20.

Following the latest reduction, the total U.S. rig count now stands at 771, comprising 753 land rigs, 16 offshore rigs and two inland water rigs, Baker Hughes’ latest count showed. Of the total U.S. rig count, 613 rigs are classified as oil rigs, 156 are classified as gas rigs and two are classified as miscellaneous rigs.

Conversely, Canada added 14 rigs week on week, taking its total rig count to 241, Baker Hughes highlighted. Of Canada’s total rig count, 153 rigs are classified as oil rigs and 88 rigs are classified as gas rigs. The total North America rig count now stands at 1,012, according to Baker Hughes.

North America has added 196 rigs year on year, with 167 of those additions coming from the U.S. and 29 coming from Canada, the latest count outlined. The U.S. additions comprised 122 oil rigs, 43 gas rigs and two miscellaneous rigs, while the Canada additions comprised 19 oil rigs and 10 gas rigs, Baker Hughes revealed.

In its previous rig count, which was released on January 13, Baker Hughes pointed out that the U.S. added three rigs and Canada added 38 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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