North America Keeps Adding Rigs - Rigzone News

North America Keeps Adding Rigs | Rigzone

North America Keeps Adding Rigs

North America added more rigs week on week, according to Baker Hughes’ latest rotary rig count, which was published on June 23.

Canada added 10 rigs week on week, while the U.S. dropped five rigs during the same timeframe, bringing the total North America rig count up by five week on week, Baker Hughes’ rig count showed. The North America rig count now totals 851 rigs, comprising 682 in the U.S. and 169 in Canada, the count outlined.

Canada’s total rig count is made up of 110 oil rigs and 59 gas rigs, according to the count, which highlighted that the country added seven oil rigs and three gas rigs week on week. The U.S. rig count comprises 546 oil rigs, 130 gas rigs, and six miscellaneous rigs, Baker Hughes pointed out. Of the country’s total of 682 rigs, 661 are categorized as land rigs, 19 are categorized as offshore rigs, and two are categorizes as inland water rigs.

Baker Hughes’ count revealed that the U.S. dropped four land rigs and one inland water rig week on week, and that the country had six fewer oil rigs and one more miscellaneous rig during the same timeframe. Alaska, Louisiana, North Dakota, Texas, and West Virginia were all shown to have dropped rigs week on week, while New Mexico and Pennsylvania were shown to have added rigs week on week.

Louisiana cut three rigs, Texas two rigs, and Alaska, North Dakota, and West Virginia all cut one rig, according to Baker Hughes, which showed that New Mexico added two rigs and Pennsylvania added one rig.

Baker Hughes’ count highlighted that North America is down 56 rigs on year ago figures and showed that the U.S. has driven this decline, cutting 71 rigs compared to Canada’s addition of 15. The U.S. has dropped 48 oil rigs and 27 gas rigs, and added four miscellaneous rigs, year on year, while Canada has added six oil rigs and nine gas rigs year on year, the rig count revealed.

Baker Hughes’ previous rig count, which was published on June 16, showed that North America had added 15 rigs week on week. In the rig count before 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 June 2 count, Baker Hughes outlined that North America had dropped five rigs week on week, and in the count before that, which was posted 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 dropped 20 rigs week on week, and the rig count before that one, which was posted on May 12, showed that North America 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. Baker Hughes’ rig count published on April 6 showed that the region dropped 16 rigs week on week, its March 31 rig count showed that North America cut 29 rigs week on week, its March 24 count showed that the region dropped 38 rigs week on week, and its March 17 rig count revealed that the region dropped eight rigs week on week.

Baker Hughes’ March 10 rig count showed a 26-rig week on week drop in North America and its March 3 count also 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

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