North America Ends Rig Addition Streak

North America dropped seven rigs week on week, according to Baker Hughes’ latest North America rotary rig count, which was released on August 1.

The U.S. dropped two rigs week on week and Canada cut five rigs during the same period, taking the total North America rig count down to 717, comprising 540 rigs from the U.S. and 177 rigs from Canada, the count outlined.

Of the total U.S. rig count of 540, 525 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 410 oil rigs, 124 gas rigs, and six miscellaneous rigs, according to Baker Hughes’ count, which revealed that the U.S. total comprises 471 horizontal rigs, 54 directional rigs, and 15 vertical rigs.

Week on week, the U.S. land and inland water rig counts each decreased by one, while the country’s offshore rig count remained unchanged, the count highlighted. The country’s gas rig count increased by two, its oil rig count dropped by five, and its miscellaneous rig count rose by one, week on week, the count showed. The U.S. directional rig count increased by seven, its vertical rig count increased by three, and its horizontal rig count dropped by 12, week on week, the count revealed.

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

Canada’s total rig count of 177 is made up of 124 oil rigs and 53 gas rigs, Baker Hughes pointed out. The country’s oil rig count dropped by four week on week and its gas rig count dropped by one during the period, the count revealed.

The total North America rig count is down by 88 rigs compared to year ago levels, according to Baker Hughes’ count, which showed that the U.S. has cut 46 rigs and Canada has cut 42 rigs, year on year. The U.S. has dropped 72 oil rigs and added 26 gas rigs, while Canada has dropped 26 oil rigs and 16 gas rigs, year on year, the count outlined.

In a report sent to Rigzone by the Skandinaviska Enskilda Banken AB (SEB) team on Monday, SEB Chief Commodities Analyst Bjarne Schieldrop highlighted that the U.S. oil drilling rig count “is down from 480 in Q1-25 to now 410 last week”, adding that “it is typically falling by some 4-5 rigs per week currently”.

In its previous rig count, which was released on July 25, Baker Hughes revealed that North America added eight rigs week on week. Although the U.S. dropped two rigs week on week, Canada added 10 rigs during the same period, that count outlined.

Baker Hughes’ July 18 count showed that North America added 17 rigs week on week, its July 11 rig count showed that North America added nine rigs week on week, and its July 3 count highlighted 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