USA Rig Count Almost Doubles

The United States rig count is almost double where it was this time last year, according to Baker Hughes’  latest rotary rig count, which was released on September 10.

Total U.S. rig figures stood at 503 in the new count, up by six week on week and by 249 year on year, Baker Hughes’ figures show. Of these 503 rigs in operation, 401 are classified as oil rigs, 101 as gas rigs and one as a miscellaneous rig. U.S. oil rigs have increased by 221 year on year, gas rigs by 30 year on year and miscellaneous rigs have dropped by two year on year, according to Baker Hughes.

Canada’s current rig count stands at 143, which is nine less than Baker Hughes’ previous rig count. Compared to year ago levels, Canada has added 91 rigs, Baker Hughes’ data shows. Of Canada’s current 143 rigs, 87 are classified as oil rigs and 56 are classified as gas rigs. Oil rigs have increased by 68 year on year and gas rigs have increased by 23 year on year.

Baker Hughes’ total North America rig counts currently stand at 646, which marks a drop of three week on week and a rise of 340 year on year. The company’s latest international rig count, last released in August, showed 777 rigs, which marked a 26 rig rise compared to Baker Hughes’ previous international rig count in July. Compared to August 2020, the latest international rig count rose by 30 rigs.

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 initiated its monthly international rig count in 1975. Baker Hughes 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