The U.S. dropped four rigs week-on-week, according to Baker Hughes’ latest rotating rig count, which was released on March 3.
The four rigs consisted of two onshore rigs, one offshore rig and one inland water rig, the count showed. The decline brings the total US rig count to 749, including 732 onshore rigs, 16 offshore rigs and one inland water rig, according to Baker Hughes’ count. Of the total 749 US rigs, 592 are classified as oil rigs, 154 as gas rigs and three as miscellaneous rigs.
Canada added two rigs week-on-week, according to Baker Hughes’ count, which revealed the country’s total rig count now stands at 246, including 158 oil rigs and 88 gas rigs. The total North American team count is now 995, down two weeks a week, Baker Hughes noted in the count.
North America added 128 rigs year-on-year, with 99 coming from the US and 29 from Canada, Baker Hughes rig count showed. The U.S. has added 73 oil rigs, 24 gas rigs and two miscellaneous rigs year over year, while Canada has added 24 oil rigs and six gas rigs, and dropped one miscellaneous rig, year over year, revealed the Baker Hughes count.
In his count of previous teams, which was published on February 24, Baker Hughes highlighted that the US dropped seven land platforms week after week. Canada also dropped four rigs week-over-week, according to this count. In its platform count published on February 17Baker Hughes showed that the US dropped one rig and Canada dropped two rigs week after 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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