The U.S. dropped seven land rigs week-over-week, according to Baker Hughes’ latest rotary rig count, which was released on February 24.
After the decline, the total U.S. rig count stood at 753 rigs, including 734 onshore rigs, 17 offshore rigs and two miscellaneous rigs, the count showed. Of the total US rig count of 753, 600 are classified as oil rigs, 151 as gas rigs, and two as miscellaneous rigs.
Canada also dropped rigs week after week, according to the count. The country reduced its platform figures by four, bringing its total count to 244, the tally revealed. Of this total number of rigs, 158 are classified as oil rigs, 86 as gas rigs and none as miscellaneous rigs.
The total North American rig count was 997 at Baker Hughes’ last count. While platform numbers in North America fell 11 week-over-week, they were up 123 year-over-year, according to the count. The U.S. drove that growth with 103 additions, while Canada added 20 teams, the count showed.
In the previous Baker Hughes equipment countthe US was revealed to drop one rig and Canada was revealed to have dropped two week by week. On the platform it counts before thatthe total US platform count increased by two week-over-week and the total Canadian platform count increased by one week-over-week.
Baker Hughes, which has issued the oil rig count since 1944, describes the numbers as an important business barometer for the drilling industry and its suppliers. The company gets its work platform location information in part from Enverus, which produces daily equipment counts using GPS tracking units.
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