North America again dropped rigs week-on-week, Baker Hughes’ latest rotating rig count, released on September 1, revealed.
The region cut four rigs week-over-week, bringing its total count to 818, according to Baker Hughes, which showed the U.S. dropped one rig week-over-week while Canada cut three rigs over the same time period .
The total U.S. rig count now stands at 631, including 611 onshore rigs, 17 offshore rigs and three inland water rigs, the Baker Hughes count showed. Of the total of 631 rigs, 512 are classified as oil rigs, 114 as gas rigs and five as miscellaneous rigs.
The U.S. had two fewer onshore rigs and one more week offshore, according to the count, which noted that the country’s gas rig count was down by one over the same time period. Texas and West Virginia each dropped a rig week-over-week, while Colorado added a rig, the count noted.
Canada’s total rig count of 187 is made up of 115 oil rigs and 72 gas rigs, the Baker Hughes rig count revealed. The country had two fewer gas rigs and one fewer oil rigs week-on-week, the count noted.
Baker Hughes’ latest rig count noted that North America is down 150 rigs from last year’s numbers and showed that the United States has driven that decline, cutting 129 rigs over the period while Canada drop 21 teams. The United States has cut 84 oil rigs and 48 gas rigs and added three miscellaneous rigs year over year, while Canada has dropped 28 oil rigs and added seven gas rigs year over year, the count revealed platforms
In its latest rig count, which was released on August 25, Baker Hughes revealed that the North American rig count fell nine weeks to 822. This count showed that 632 d ‘these rigs were in the US and 190 in Canada and that the The total US rig count comprised 512 oil rigs, 115 gas rigs and five miscellaneous rigs.
“The US oil rig count fell eight weeks to an 18-month low of 512 rigs, according to the latest Baker-Hughes survey,” Standard Chartered analysts said in a report sent to Rigzone on August 29, referring to Baker. Hughes team count on August 25.
“The oil rig count has risen just once in the past 18 weeks and just five times in the year to date. It’s 93 rigs lower year-over-year and 109 rigs lower year-to-date. The week’s declines in activity the largest occurred in the New Mexico portion of the Delaware Basin, where the number of rigs fell by four to 103,” the analysts added in the report.
Baker Hughes’ Aug. 18 count showed North America dropping 13 rigs week-over-week, the Aug. 11 count showed the region dropping three rigs week-over-week and its The August 4 count showed that North America dropped 10 devices week-over-week.
The company’s July 28 tally revealed that North America added one week-over-week, its July 21 tally showed North America losing six handsets week-over-week, and its July 14 tally July showed that North America added seven devices week over week. Baker Hughes’ July 7 count highlighted that 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 indicated that North America increased its rig count by five weeks on the week, and its 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 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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