USA Keeps Adding More Rigs

The U.S. added 14 more rigs week on week, according to Baker Hughes’ latest rotary rig count, which was published on May 20.

All 14 rigs were land rigs, the count showed. The additions take the total U.S. rig count up to 728, comprising 709 land rigs, 18 offshore rigs and one inland water rig, Baker Hughes’ latest count outlined. Of the total U.S. rig figure of 728, 576 are classified as oil rigs, 150 are classified as gas rigs, and two are classified as miscellaneous rigs.

Baker Hughes’ previous rig count, released on May 13, showed that the U.S. added nine rigs week on week. The rig count before that, released on May 6, showed that the U.S. added seven rigs week on week, and the one prior to that, released on April 29, showed that the U.S. added three rigs week on week.

In its latest rig count, Baker Hughes revealed that Canada’s rig count stayed flat week on week, at 88 rigs. The total North America rig count now stands at 816, Baker Hughes’ count outlined.

Looking at year ago figures, the U.S. has added 273 rigs, comprising 269 land rigs and four offshore rigs, which were made up of 220 oil rigs, 51 gas rigs, and two miscellaneous rigs, according to Baker Hughes. Canada has added 30 rigs year on year, comprising 15 oil rigs and 15 gas rigs, Baker Hughes’ latest count revealed. North America is shown to have added 303 rigs year on year.

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