USA Ramps Up Rig Count

USA Ramps Up Rig Count
The U.S. boosted its rig count week on week.

The U.S. boosted its rig count by nine week on week, according to Baker Hughes’ latest rotary rig count, which was released on July 29.

Eight of the nine additions were land rigs and one was an offshore rig, the count showed. The additions take the total U.S. rig count up to 767, comprising 746 land rigs, 17 offshore rigs and four inland water rigs, according to Baker Hughes. Of the total U.S. rig figure of 767, 605 of these are categorized as oil rigs, 157 are categorized as gas rigs and five are categorized as miscellaneous rigs.

Canada also increased its rig count week on week by nine, taking its total rig count up to 204, Baker Hughes’ latest count showed. Canada’s 204 rigs comprise 137 oil rigs and 67 gas rigs, according to Baker Hughes, which outlined that the total North America rig count now stands at 971.

The North America rig count has increased by 330 rigs compared to year ago figures, with 279 rigs coming from the U.S. and 51 coming from Canada, Baker Hughes’ latest rig count highlighted. Year on year, the U.S. was shown to have added 220 oil rigs, 54 gas rigs and five miscellaneous rigs, while Canada was shown to have added 44 oil rigs and eight gas rigs and dropped one miscellaneous rig.

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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