Baker Hughes USA Rig Count Gets Closer to 500

Oil & Gas

The U.S. rotary rig count is within striking distance of hitting the 500 mark, adding seven rigs to reach 491 this week, Baker Hughes Co. (NYSE: BKR) reported Friday.

In its weekly count of operating rigs Baker Hughes noted that all seven of the additional U.S. drilling units are oil rigs, now totaling 387. The U.S. gas and miscellaneous rig tallies remained flat at 104 and zero, respectively, the service company added.

Since this time last year, when 251 rigs were operating, the U.S. is up 240 rigs, Baker Hughes noted. The firm stated the year-on-year figures reflect a 206-unit increase in oil rigs, a 36-unit rise in gas rigs, and a two-unit decline in miscellaneous rigs. It added the U.S. offshore rig count remained flat at 17 this week – compared to 12 a year ago.

Canada shed one rig, closing out the week at 149 units, Baker Hughes continued. The country’s count of active oil rigs fell by one and now totals 93, the company added. Canada’s gas and miscellaneous rig counts held steady – remaining at 55 and one, respectively.

Compared to this time in 2020, Canada’s rig count is up 107 units, Baker Hughes stated. The firm pointed out that Canada has added 83 oil rigs, 23 gas rig, and one miscellaneous rig year-over-year.

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

To contact the author, email mveazey@rigzone.com.

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