USA Drops Rigs Week on Week

USA Drops Rigs Week on Week
The U.S. dropped three rigs week on week.

The U.S. dropped three rigs week on week, according to Baker Hughes’ latest rotary rig count, which was released on July 1.

Baker Hughes’ latest count showed that the U.S. dropped four land rigs and added one offshore rig week on week. The total rig count in the U.S. is now said to be 750, comprising 730 land rigs, 17 offshore rigs and three inland water rigs. Of the 750 total, 595 are classified as oil rigs, 153 are classified as gas rigs, and two are classified as miscellaneous rigs.

Canada’s weekly rig count increased by 12, according to Baker Hughes’ latest rig figures, which showed that the country’s total rig count now stands at 166. Of this total rig figure, 109 rigs are classified as oil rigs and 57 rigs are classified as gas rigs. North America’s total rig count now stands at 916, Baker Hughes’ count highlights.

North America has added 305 rigs year on year, comprising 275 from the U.S. and 30 from Canada, according to Baker Hughes. The U.S. has added 219 oil rigs, 54 gas rigs, and two miscellaneous rigs compared to year ago figures, while Canada has added 22 oil rigs and 10 gas rigs, while dropping two miscellaneous rigs, Baker Hughes’ count showed.

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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