Baker Hughes reported that the United States added seven rigs on week on its latest rotary rig count. Moreover, of the seven rigs added, four were land rigs, and three were offshore rigs.
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Thus, the total U.S. rig count now stands at 528, comprising 513 land rigs, 13 offshore rigs, and two inland water rigs. Moreover, there are currently 428 oil rigs, 99 gas rigs, and one miscellaneous rig within the total U.S. rig count.
Rig count in North America – Increases
Indeed, compared to a year ago levels, the total U.S. rig count increased by 262. Consequently, during this time, 262 land rigs and one inland water rig have been added. On the other hand, one offshore rig has been removed.
Similarly, U.S. oil rigs increased by 239 year on year, and gas rigs increased by 25 year on year. Therefore, the miscellaneous rig count fell by two over a year.
On the other hand, Canada added three rigs weekly, taking its total rig count up to 165. Specifically, 97were oil rigs, and 68 were gas rigs. Compared to a year ago levels, Canada’s rig count increased by 90. Thus, the country added 60 oil rigs and 30 gas rigs during this time.
About Baker Hughes rotary rig counts
Overall, the total North America rig count now stands at 693, up from 341 a year ago.
Worth noting, Baker Hughes has issued the rotary rig counts to the petroleum industry since 1944. Since then, the company describes the figures as an essential business barometer for the drilling industry and its suppliers.
Particularly, the company obtains its working rig location information in part from Enverus. Accordingly, it produces daily rig counts using GPS tracking units.