North America Continues Rig Addition Streak

North America added 17 rigs week on week, according to Baker Hughes’ latest North America rotary rig count, which was released on July 18.

The U.S. added seven rigs and Canada added 10 rigs week on week, taking the total North America rig count up to 716, comprising 544 rigs from the U.S. and 172 rigs from Canada, the count outlined.

Of the total U.S. rig count of 544, 529 rigs are categorized as land rigs, 13 are categorized as offshore rigs, and two are categorized as inland water rigs. The total U.S. rig count is made up of 422 oil rigs, 117 gas rigs, and five miscellaneous rigs, according to Baker Hughes’ count, which revealed that the U.S. total comprises 485 horizontal rigs, 44 directional rigs, and 15 vertical rigs.

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

A major state variances subcategory included in the rig count showed that, week on week, New Mexico added four rigs, Louisiana added two rigs, Colorado and Utah each added one rig, and Texas dropped two rigs. A major basin variances subcategory included in Baker Hughes’ rig count showed that, week on week, the Haynesville basin added three rigs and the Permian basin dropped two rigs.

Canada’s total rig count of 172 is made up of 120 oil rigs and 52 gas rigs, Baker Hughes pointed out. The country’s oil rig count increased by eight week on week and its gas rig count rose by two during the period, the count revealed.

The total North America rig count is down by 67 rigs compared to year ago levels, according to Baker Hughes’ count, which showed that the U.S. has cut 42 rigs and Canada has cut 25 rigs, year on year. The U.S. has dropped 55 oil rigs and one miscellaneous rig, and added 14 gas rigs, while Canada has dropped 14 oil rigs, 10 gas rigs, and one miscellaneous rig, year on year, the count outlined.

In its previous rig count, which was released on July 11, Baker Hughes revealed that North America added nine rigs week on week. The U.S. dropped two rigs week on week and Canada added 11 rigs during the same timeframe, that count showed. Baker Hughes’ July 3 count revealed that North America added three rigs week on week.

In its June 27 rig count, Baker Hughes revealed that North America dropped six rigs week on week. The company’s June 20 rig count showed that the total North America rig count remained unchanged week on week, its June 13 rig count showed that North America added 20 rigs week on week, and its June 6 rig count showed that North America cut two rigs week on week.

Baker Hughes’ May 30 rig count revealed that North America dropped five rigs week on week, its May 23 count showed that North America dropped 17 rigs week on week, and its May 16 rig count showed that North America added five rigs week on week. The company’s May 9 rig count revealed that North America cut 12 rigs week on week, its May 2 count revealed that North America dropped 11 rigs week on week, and its April 25 count showed that North America dropped four rigs week on week.

Baker Hughes’ April 17 count showed that North America dropped two rigs week on week, its April 11 rig count revealed that North America cut 22 rigs week on week, the company’s April 4 rig count showed that North America cut 12 rigs week on week, its March 28 count revealed that North America cut 18 rigs week on week, and its March 21 rig count also revealed that North America cut 18 rigs week on week. Baker Hughes’ March 14 count showed that North America dropped 35 rigs week on week and its March 7 rig count revealed North America cut 15 rigs week on week.

In its February 28 rig count, Baker Hughes showed that North America added five rigs week on week. Its February 21 count revealed that North America added three rigs week on week, its February 14 rig count showed that North America dropped two rigs week on week, and its January 31 rig count showed that North America added 19 rigs week on week.

The company’s January 24 rig count revealed that North America added 12 rigs week on week, its January 17 count showed that North America added nine rigs week on week, and its January 10 rig count outlined that North America added 117 rigs week on week.

Baker Hughes’ January 3 rig count revealed that North America dropped one rig week on week and its December 27 rig count showed that North America dropped 71 rigs week on week.

Baker Hughes, which has issued rotary rig counts since 1944, describes the figures as an important business barometer for the drilling industry and its suppliers. The company notes that working rig location information is provided in part by Enverus.

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