USA Rig Count Drops

The total number of rotary drilling rigs operating in the United States dropped to 488 last week, according to Baker Hughes Co.’s (NYSE: BKR) latest rotary rig count, which was released on July 30.

The figure marks a drop of three offshore rigs compared to the previous week’s count. The total rotary rig count in the U.S. now stands at 473 land rigs, 14 offshore rigs, and one inland water rig. Of these 488 rigs, 385 are oil rigs and 103 are gas rigs, Baker Hughes’ latest count shows. Oil rigs dropped by two and gas rigs dropped by one compared to the previous week.

Although the USA rig count posted a weekly drop, it was still up by 237 compared to year-ago figures, Baker Hughes revealed. In the corresponding period in 2020, the total rotary rig count in the U.S. comprised 239 land rigs, 12 offshore rigs, and no inland water rigs. Of these rigs, 180 were oil rigs, 69 were gas rigs, and two were miscellaneous rigs, according to the Baker Hughes count.

In contrast to the U.S., Canada gained four gas rigs week on week, pushing its rotary rig count up to 153. Canada now has 93 oil rigs, 59 gas rigs, and one miscellaneous rig, the Baker Hughes count shows. A year ago, Canada had just 45 rigs.

The total North America rotary rig count now stands at 641, which marks a week on week increase of one rig. A year ago, this figure stood at 296.

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