North America added one rig week on week, according to the latest rotary rig count from Baker Hughes, which was published on July 28.
The region’s total rig count figure is now 857, Baker Hughes’ count showed, highlighting that this figure is made up of 664 rigs from the U.S. and 193 rigs from Canada. Although the U.S. dropped five rigs week on week, Canada added six rigs during the same timeframe, the count revealed.
The total U.S. rig figure of 664 comprises 529 oil rigs, 128 gas rigs, and seven miscellaneous rigs, according to Baker Hughes’ count, which outlined that, of this total figure, 640 rigs are categorized as land rigs, 19 are categorized as offshore rigs, and five are categorized as inland water rigs. Canada’s total rig figure of 193 was shown to comprise 121 oil rigs and 72 gas rigs.
In its latest rig count, Baker Hughes revealed that the U.S. had seven fewer land rigs, one more inland water rig, and one more offshore rig, week on week. The country cut three gas rigs, one oil rig, and one miscellaneous rig during the same timeframe, according to Baker Hughes, which revealed that Colorado, New Mexico, Ohio, Oklahoma, and Pennsylvania all cut rigs week on week, while Louisiana added rigs.
New Mexico was shown to have dropped two rigs, Colorado, Ohio, Oklahoma, and Pennsylvania were each shown to have dropped one rig, and Louisiana was shown to have added two rigs. Canada was shown to have added five oil rigs and one gas rig week on week.
Baker Hughes’ latest rig count outlined that North America is down 114 rigs on year ago figures and highlighted that the U.S. has driven this decline, cutting 103 rigs during the period while Canada dropped 11 rigs. The U.S. has cut 76 oil rigs and 29 gas rigs, and added two miscellaneous rigs, year on year, while Canada has dropped 16 oil rigs and added five gas rigs year on year, the rig count revealed.
In its previous rig count, which was released on July 21, Baker Hughes revealed that North America had lost six rigs week on week. In the rig count before that, which was posted on July 14, Baker Hughes showed that North America had added seven rigs week on week, and in its count released on July 7, Baker Hughes showed that North America had added 14 rigs week on week. In the rig count prior to that, which was released on June 30, the company revealed that North America had dropped 10 rigs week on week.
Prior to the count released on June 30, North America had been on a streak of rig additions, Baker Hughes’ previous counts showed. In its count released on June 23, the company highlighted that North America had increased its rig count by five week on week, and in the count before that one, which was published on June 16, Baker Hughes showed that North America had added 15 rigs week on week. In the rig count prior to that, which was published on June 9, Baker Hughes revealed that North America had finally broken a rig loss streak. The region was shown in that count to have added 38 rigs week on week.
In its rig count released on June 2, Baker Hughes outlined that North America had dropped five rigs week on week, and in the count before that, which was published on May 26, Baker Hughes revealed that North America had dropped seven rigs week on week. The count prior to that, which was posted on May 19, showed that the region had dropped 20 rigs week on week, and the rig count before that one, which was posted on May 12, showed that North America had dropped 16 rigs week on week.
Baker Hughes’ May 5 count showed that North America cut seven rigs week on week, its April 28 count revealed that North America dropped 10 rigs week on week, its April 21 count revealed that the region dropped one rig week on week, and its April 14 count revealed that the region dropped 19 rigs week on week. In its April 6 count, Baker Hughes revealed that North America cut 16 rigs week on week and in its March 31 count, the company showed that North America cut 29 rigs week on week.
Baker Hughes’ March 24 count showed that the region dropped 38 rigs week on week, its March 17 rig count revealed that the region dropped eight rigs week on week, its March 10 rig count showed a 26-rig week on week drop in North America, and its March 3 count revealed that North America had cut two rigs week on week.
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
