USA Loses Rigs

The U.S. dropped four rigs week on week, according to Baker Hughes’ latest rotary rig count, which was released on December 9.

There was a reduction of three land rigs and one inland water rig, which pushed the total U.S. rig count down to 780, Baker Hughes showed. This total rig count comprises 760 land rigs, 18 offshore rigs and two inland water rigs, with 625 of these categorized as oil rigs, 153 as gas rigs and two as miscellaneous rigs, Baker Hughes’ count highlighted.

Canada’s rig count was shown to have risen by seven week on week. The country’s total count now stands at 202, according to Baker Hughes, with 131 of these categorized as oil rigs and 71 categorized as gas rigs. The total North America rig count increased by three overall week on week to 982, Baker Hughes revealed.

North America has added 229 rigs compared to year ago figures, with 204 of these coming from the U.S. and 25 of these coming from Canada, the rig count outlined. The U.S. additions were shown to comprise 154 oil rigs, 48 gas rigs and two miscellaneous rigs, while the Canada additions were shown to comprise 21 oil rigs and four gas rigs.

In its previous rig count, which was released on December 2, Baker Hughes revealed that the U.S. rig count stayed flat at 784 rigs. The previous rig count broke a cycle of additions for the U.S., which saw the country add rigs for several consecutive weeks.

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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