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USA Rig Count Drops

·2 min read
USA Rig Count Drops
USA Rig Count Drops

This article was first published on Rigzone here

The U.S. rig count dropped by one rig week on week, according to Baker Hughes’ latest rotary rig count, which was published on May 27.

Although the U.S. added a land rig week on week, it also dropped two offshore rigs during the same time period, resulting in an overall weekly loss of one rig, the count outlined. The total U.S. rig count now stands at 727 rigs, comprising 710 land rigs, 16 offshore rigs and one inland water rig, Baker Hughes’ latest count shows. Of the total rig figure of 727, 574 of these are classified as oil rigs, 151 are classified as gas rigs, and two are classified as miscellaneous rigs.

Canada added 15 rigs week on week, according to Baker Hughes’ count, which revealed that the country’s total rig figure now stands at 103, comprising 55 oil rigs and 48 gas rigs. Baker Hughes’ latest count puts North America’s total rig figure at 830.

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The U.S. rig count has increased by 270 rigs year on year – made up of 215 oil rigs, 53 gas rigs, and two miscellaneous rigs – according to Baker Hughes’ latest numbers. Canada’s rig count is shown to have increased by 41 rigs, comprising 27 oil rigs and 14 gas rigs. North America’s total rig figure has grown by 311 rigs compared to year ago figures, Baker Hughes shows.

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

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