Baker Hughes Rig Counts Show US Decline

Oil & Gas

The overall U.S. rotary rig count dipped by two over the past week, falling to 310 units, Baker Hughes Co. (NYSE: BKR) reported Friday.

In its weekly count of operating rigs Baker Hughes noted that 231 of the U.S. drilling units were oil rigs – down five from last week. The number of U.S. gas rigs rose by three to 76 and the miscellaneous rig count held steady at three, the service company added.

Since this time last year, when 803 rigs were operating, the U.S. has shed 493 rigs, Baker Hughes noted. The firm stated the year-on-year figures reflect a 440-unit decrease in oil rigs, a 53-unit decline in gas rigs and no change in miscellaneous rigs. It added the U.S. offshore rig count fell by one this week to 12, compared to 22 a year ago.

Canada gained 12 rigs, closing out the week at 101 units, Baker Hughes continued. Three of the new units are oil rigs, which now total 42, the company added. Canada’s nine additional gas rigs bring the latest total in that category to 59.

Compared to this time in 2019, Canada’s rig count is down 36, Baker Hughes stated. The firm pointed out that Canada has shed 44 oil and added eight gas rigs since then.

Baker Hughes obtains its working rig location information in part from Enervus Drillinginfo, which produces daily rig counts using GPS tracking units.

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