North America Drops 64 Rigs Week on Week

North America dropped 64 rigs week on week, according to Baker Hughes’ latest North America rotary rig count, which was published on December 23.

The total U.S. rig count rose by three week on week and the total Canada rig count decreased by 67 during the same period, pushing the total North America rig count down to 663, comprising 545 rigs from the U.S. and 118 rigs from Canada, the count outlined.

Of the total U.S. rig count of 545, 526 rigs are categorized as land rigs, 16 are categorized as offshore rigs, and three are categorized as inland water rigs. The total U.S. rig count is made up of 409 oil rigs, 127 gas rigs, and nine miscellaneous rigs, according to Baker Hughes’ count, which revealed that the U.S. total comprises 474 horizontal rigs, 56 directional rigs, and 15 vertical rigs.

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

A major state variances subcategory included in the rig count showed that, week on week, Texas added two rigs, Louisiana and Oklahoma each added one rig, and New Mexico dropped one rig. A major basin variances subcategory included in the rig count showed that, week on week, the Eagle Ford basin added two rigs, and the Permian and Arkoma Woodford basins each added one rig.

Canada’s total rig count of 118 is made up of 59 oil rigs and 59 gas rigs, Baker Hughes pointed out. Week on week, the country’s oil rig count dropped by 60, its gas rig count decreased by seven, and its miscellaneous rig count remained unchanged, the count revealed.

The total North America rig count is down 21 rigs compared to year ago levels, according to Baker Hughes’ count, which showed that the U.S. has cut 44 rigs and Canada has added 23 rigs, year on year. The U.S. has dropped 74 oil rigs and added 25 gas rigs and five miscellaneous rigs, while Canada has added 15 oil rigs and eight gas rigs, year on year, the count outlined.

In its previous rig count, which was published on December 19, Baker Hughes showed that North America’s rig count dropped by 13 week on week. The total U.S. rig count dropped by six week on week and the total Canada rig count decreased by seven during the same period, that count showed.

Baker Hughes’ December 12 count showed that North America’s rig count remained unchanged week on week, its December 5 rig count showed that North America added eight rigs week on week, and its November 26 rig count revealed that North America dropped 17 rigs week on week.

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

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