Baker Hughes Rig Count Shows Slight USA Gain

Oil & Gas

The U.S. rotary rig count increased by one to 403 drilling units this week, Baker Hughes Co. (NYSE: BKR) reported Friday.

In its weekly count of operating rigs Baker Hughes noted the U.S. oil rig count grew by one and now totals 310. The U.S. gas rig and miscellaneous rig numbers, however, remained flat at 92 and one, respectively, the service company added.

Since this time last year, when 793 rigs were operating, the U.S. has dropped 390 rigs, Baker Hughes noted. The firm stated the year-on-year figures reflect a 372-unit decrease in oil rigs, a 17-unit decline in gas rigs, and a one-unit drop miscellaneous rigs. It added the U.S. offshore rig count fell by three this week to 14 – compared to 23 a year ago.

Canada shed 22 rigs to end the week at 141 units, Baker Hughes continued. The double-digit loss includes a 12-unit decrease in oil rigs, which now total 80, and a 10-unit decrease in gas rigs (to 61), the company added.

Year-over-year, Canada’s rig count is down 62 from 203, Baker Hughes stated. The firm pointed out that Canada has shed 54 oil and eight gas rigs since this time in 2020.

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

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