North America dropped another 16 rigs weekly, according to Baker Hughes’ latest rotating rig count, which was released on May 12.
While Canada added one rig week-over-week, the US dropped 17 rigs over the same time period, bringing North America’s total rig count to 825, including 731 rigs in the US and 94 in the Canada, the Baker Hughes count explained.
Canada added three oil rigs and dropped two gas rigs week-over-week, while the US added another rig and dropped 16 gas rigs and two oil rigs week-over-week, according to the count, which showed the country had 18 fewer onshore rigs and one more offshore rig, week after week. Alaska, Louisiana, North Dakota, Ohio, Oklahoma, Pennsylvania, Texas, West Virginia and Wyoming all dropped rigs week after week, with Louisiana and Wyoming seeing the most weekly losses with four each, it showed the count
Canada’s total rig count of 94 includes 37 oil rigs and 57 gas rigs, according to Baker Hughes. The total US rig count of 731 is made up of 586 oil rigs, 141 gas rigs and four miscellaneous rigs, the count noted. Of the US total, 707 rigs are classified as land rigs, 22 as offshore rigs and two as inland water rigs.
North America has added 23 rigs year over year, according to Baker Hughes’ tally, which noted that the US added 17 of those rigs and Canada added six. The US added 23 oil rigs and two miscellaneous rigs year over year, and dropped eight gas rigs, while Canada added six gas rigs year over year, according to the count.
In its previous rig count, which was released on May 5, Baker Hughes revealed that North America cut seven teams week-over-week and in the previous rig count, which was released on April 28, the company showed that North America dropped 10 teams weekly. a 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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