North America Adds 3 Rigs WoW

North America added three rigs week on week, according to Baker Hughes’ latest North America rotary rig count, which was published on January 30.

The total U.S. rig count rose by two week on week and the total Canada rig count increased by one during the same period, pushing the total North America rig count up to 778, comprising 546 rigs from the U.S. and 232 rigs from Canada, the count outlined.

Of the total U.S. rig count of 546, 529 rigs are categorized as land rigs, 14 are categorized as offshore rigs, and three are categorized as inland water rigs. The total U.S. rig count is made up of 411 oil rigs, 125 gas rigs, and 10 miscellaneous rigs, according to Baker Hughes’ count, which revealed that the U.S. total comprises 478 horizontal rigs, 53 directional rigs, and 15 vertical rigs.

Week on week, the U.S. land rig count rose by three, its offshore rig count dropped by one, and its inland water rig count remained unchanged, Baker Hughes highlighted. The U.S. oil rig count remained unchanged on week, while its gas rig count increased by three and its miscellaneous rig count dropped by one, the count showed. The U.S. horizontal and vertical rig counts each increased by two week on week, and the country’s directional rig count dropped by two during the same period, the count revealed.

A major state variances subcategory included in the rig count showed that, week on week, Oklahoma added three rigs, North Dakota, Louisiana, and Pennsylvania each added one rig, Texas dropped three rigs, and Ohio dropped one rig. A major basin variances subcategory included in the rig count showed that, week on week, the Cana Woodford basin added five rigs, the Arkoma Woodford, Haynesville, Marcellus, and Williston basins each added one rig, the Granite Wash basin dropped three rigs, the Permian and Ardmore Woodford basins dropped two rigs, and the Utica basin dropped one rig.

Canada’s total rig count of 232 is made up of 156 oil rigs and 76 gas rigs, Baker Hughes pointed out. Week on week, the country’s oil rig count dropped by two, its gas rig count increased by three, and its miscellaneous rig count remained unchanged, the count revealed.

The total North America rig count is down 62 rigs compared to year ago levels, according to Baker Hughes’ count, which showed that the U.S. has cut 36 rigs and Canada has cut 26 rigs, year on year. The U.S. has dropped 68 oil rigs and added 27 gas rigs and five miscellaneous rigs, while Canada has dropped 30 oil rigs and added four gas rigs, year on year, the count outlined.

In a J.P. Morgan report dated January 30, which was sent to Rigzone by the JPM Commodities Research team on Monday, J.P. Morgan analysts noted that “total U.S. oil and gas rigs increased by two this week to 546, according to Baker Hughes”.

“Oil focused rigs remained unchanged at 411, after increasing by one rig the previous week. Meanwhile, natural gas-focused rigs increased by three to 125, following an unchanged count last week,” the analysts said  in the report.

“The rig count in the five major tight oil basins – we use the EIA [U.S. Energy Information Administration] basin definition – rose by two to 389 rigs, while the count in the two major tight gas basins increased by one to 87. Miscellaneous rigs decreased by one to 10 rigs,” they added.

“Drilling activity remains broadly flat, with minimal WoW changes. The only notable movement was a gain of three rigs in the Niobrara, partly offset by losses in regions outside the DPR coverage,” they continued.

The analysts went on to state in the report that the recent weather-related disruptions in the U.S. have largely subsided, “allowing for a clearer assessment of their impact on supply”.

“According to our estimates, Permian oil production declined by as much as 1.6 million barrels per day at the peak, bottoming out at around 4.97 million barrels per day during the coldest days at the start of the week,” they said.  

“The recovery has been steady rather than abrupt, with output returning at a rate of 300-500,000 barrels per day. As of today, Permian production has rebounded to approximately 6.3 million barrels per day, leaving about 300,000 barrels per day still offline,” they added.

“On a weekly average basis, for the week ending January 30, Permian output was still down by nearly 900,000 barrels per day, reflecting the lagged effects of the freeze-offs,” they noted.

The analysts stated in the report that U.S. natural gas production followed a similar pattern.

“Pipeline data indicate that gas output fell by as much as 18 bcfd [billion cubic feet per day] at the lowest point, with around 15 bcfd already restored, suggesting a near-term return to normal levels,” they said.

The J.P. Morgan analysts went on to note in the report that, “from a market perspective, the temporary tightening in balances – driven by disruptions in Iran, Venezuela, Kazakhstan, and Russia – has helped push WTI prices back above $65 per barrel, reversing the weakness seen in December and early January when prices briefly dipped below $55 per barrel”.

“While the physical disruptions are transient, the price response may have more lasting implications for producer behavior. In our view, the recent rally presents a tactical but meaningful hedging opportunity for U.S. E&Ps,” they said.

“At current price levels, many producers are likely to have sufficient forward-margin visibility to lock in 2026 volumes, especially given the heightened macro uncertainty,” they added.

“Even a partial increase in hedge coverage at current strips could significantly improve cash flow resilience if, as we expect, prices soften later in the year,” they continued.

In its previous count, which was published on January 23, Baker Hughes showed that North America added six rigs week on week. The total U.S. rig count rose by one week on week and the total Canada rig count increased by five during the same period, that count showed.

Baker Hughes’ January 16 rig count showed that North America added 28 rigs week on week,  its January 9 rig count revealed that North America added 94 rigs week on week, and its December 30 rig count showed that North America dropped 16 rigs week on week.

According to monthly rig count summary figures in Baker Hughes’ latest count, the North America rig count stood at 742 in January 2026 and 718 in December 2025. The latest count outlined that that the North America rig count stood at 739 in November 2025, 741 in October 2025, 728 in September 2025, 717 in August 2025, 707 in July 2025, 687 in June 2025, 690 in May 2025, 725 in April 2025, 786 in March 2025, 836 in February 2025, and 791 in January 2025.

Archived Baker Hughes data, which Rigzone was directed to by the Baker Hughes team, outlined that the North America rig count stood at 751 in December 2024, 789 in November 2024, 804 in October, September, and August 2024, 779 in July 2024, 750 in June 2024, 722 in May 2024, 748 in April 2024, 822 in March 2024, 855 in February 2024, and 818 in January 2024.

This data outlined that, in 2023, the North America rig count stood at 784 in December, 816 in November, 814 in October, 819 in September, 836 in August, 858 in July, 832 in June, 817 in May, 861 in April, 948 in March, 1,006 in February, and 998 in January. 

Going further back, this data outlined that, in 2020, the North America rig count stood at 432 in December, 405 in November, 361 in October, 316 in September, 303 in August, 288 in July, 292 in June, 371 in May, 598 in April, 904 in March, 1,039 in February, and 996 in January. 

Baker Hughes states on its site that it has issued rig counts as a service to the petroleum industry since 1944, when Baker Hughes Tool Company began weekly counts of U.S. and Canadian drilling activity. On its site, the company describes the figures as “an important business barometer for the drilling industry and its suppliers”. The company notes on its site that working rig location information is provided in part by Enverus.

To contact the author, email andreas.exarheas@rigzone.com