North America cut seven more rigs week-on-week, according to Baker Hughes’ latest rotating rig count, which was released on May 5.
The U.S. dropped seven rigs week-over-week, while Canada’s count remained steady over the same time period, bringing North America’s total rig count to 841, Baker’s latest tally said Hughes. Of that number, the total US team count is 748 and Canada’s count is 93, the tally showed.
The total US rig count of 748 is made up of 725 land rigs, 21 offshore rigs and two inland water rigs, according to Baker Hughes, which revealed that total includes 588 oil rigs, 157 gas rigs and three various platforms. Eight onshore rigs were lost week-over-week in the country, while one offshore rig was added, Baker Hughes showed. The US dropped four gas rigs and three oil rigs week-on-week, the count noted. Texas and North Dakota were shown to have cut rigs week after week, while Louisiana and California added rigs. The count revealed that Texas dropped nine rigs during that time period, North Dakota dropped one rig, Louisiana added one rig and California added one rig.
Canada’s total rig count of 93 is made up of 59 gas rigs and 34 oil rigs, according to the count, which showed the country dropped two oil rigs and added two on a week-over-week basis.
North America has added 45 teams compared to year-ago levels, with the United States driving those additions, according to the count. The United States has added 43 teams year over year, while Canada has added two, according to the count. The U.S. has added 31 oil rigs, 11 gas rigs and one miscellaneous rig year over year, while Canada has added 10 gas rigs and dropped eight oil rigs year over year, according to Baker Hughes’ count.
In its previous rig count, which was released on April 28, Baker Hughes revealed that North America dropped 10 teams week-over-week. The company’s April 21 rig count showed the region down one week-over-week, its April 14 rig count showed the region down 19 teams week-over-week, and its platform count published on April 6 revealed that the region dropped 16 teams weekly. week
Baker Hughes’ March 31 rig count showed North America cut 29 rigs week-over-week, its March 24 count showed the region down 38 rigs week-over-week and its rig count of March 17 showed that the region dropped eight teams from week to week. Baker Hughes’ March 10 rig count also showed a weekly drop of 26 rigs in North America, and the March 3 count revealed North America had cut two rigs week-on-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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