North America dropped nine rigs week-over-week, according to Baker Hughes’ latest rotary rig count, which was released on August 25.
The total rig count in the region is now 822, Baker Hughes revealed, noting that 632 of those rigs are in the US and 190 in Canada. While the US lost 10 teams week-over-week, Canada added one rig in the same time frame, the rig count revealed.
Of the total 622 US rigs, 613 are classified as land rigs, 16 as offshore rigs and three as inland water rigs. The total US rig count includes 512 oil rigs, 115 gas rigs and five miscellaneous rigs, according to Baker Hughes’ count.
The U.S. had eight fewer onshore rigs, one fewer offshore rig and one fewer inland water rig week-over-week, according to Baker Hughes, which noted that the country’s oil rig count fell by eight and gasoline rigs declined in two during the same. time period. Louisiana, New Mexico and Texas lost rigs week over week and Oklahoma and West Virginia added rigs, Baker Hughes noted.
Louisiana dropped three rigs, New Mexico and Texas dropped five rigs each, and Oklahoma and West Virginia added one rig each, according to the count.
Canada’s total rig count of 190 includes 116 oil rigs and 74 gas rigs, according to the count, which showed the country dropped three oil rigs and added four gas rigs week over week.
Baker Hughes’ latest rig count noted that North America is down 144 rigs from last year’s numbers and showed that the U.S. has driven that decline, cutting 133 rigs over the period while Canada drop 11 platforms. The United States has cut 93 oil rigs and 43 gas rigs, and added three miscellaneous rigs, year over year, while Canada has dropped 20 oil rigs and added nine gas rigs year over year, the count revealed of platforms
In its previous rig count, which was released on August 18, Baker Hughes revealed that the North American rig count was down 13 week-over-week. In the previous rig count, which was released on Aug. 11, Baker Hughes showed that North America dropped three rigs week-over-week, and in the previous rig count, which was released on Aug. 4 ‘August, the company revealed that North America fell 10 teams week to week.
Baker Hughes’ July 28 count showed North America adding one week-over-week, its July 21 count showed North America losing six appliances week-over-week and its July 14 count showed that North America added seven devices week over week. Baker Hughes’ July 7 count revealed the region added 14 rigs week over week, and its June 30 count showed the region dropped 10 rigs week over week.
Prior to the platform count released on June 30, North America had been on a platform addition streak. The company’s June 23 count highlighted that North America increased its rig count by five weeks over the week, and the June 16 count showed North America adding 15 rigs week over week. In the previous equipment count, which was released on June 9, Baker Hughes revealed that North America had finally broken a streak of platform losses that had lasted for several weeks. This count showed that the region had added 38 teams 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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