North America Goes Back to Adding Rigs

North America added two rigs week on week, according to Baker Hughes’ latest North America rotary rig count, which was released on August 8.

Although the U.S. dropped one rig week on week, Canada added three rigs during the same period, taking the total North America rig count up to 719, comprising 539 rigs from the U.S. and 180 rigs from Canada, the count outlined.

Of the total U.S. rig count of 539, 524 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 411 oil rigs, 123 gas rigs, and five miscellaneous rigs, according to Baker Hughes’ count, which revealed that the U.S. total comprises 471 horizontal rigs, 54 directional rigs, and 14 vertical rigs.

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

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

Canada’s total rig count of 180 is made up of 122 oil rigs, 57 gas rigs, and one miscellaneous rig, Baker Hughes pointed out. Week on week, the country’s oil rig count dropped by two, its gas rig count increased by four, and its miscellaneous rig count increased by one, the count revealed.

The total North America rig count is down by 86 rigs compared to year ago levels, according to Baker Hughes’ count, which showed that the U.S. has cut 49 rigs and Canada has cut 37 rigs, year on year. The U.S. has dropped 74 oil rigs and one miscellaneous rig, and added 26 gas rigs, while Canada has dropped 25 oil rigs and 12 gas rigs, year on year, the count outlined.

In its previous rig count, which was released on August 1, Baker Hughes revealed that North America dropped seven rigs week on week. The U.S. dropped two rigs week on week and Canada cut five rigs during the same period, that count outlined.

Baker Hughes’ July 25 rig count revealed that North America added eight rigs week on week, its 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