USA Adds Multiple Rigs

Oil & Gas

The U.S. added nine rigs week on week, according to Baker Hughes’ latest rotary rig count, which was published on November 10.

Four of the additions came in the form of land rigs, three were offshore rigs and two were inland water rigs, Baker Hughes’ count showed. The additions take the total U.S. rig count up to 779, comprising 758 land rigs, 17 offshore rigs and four inland water rigs, Baker Hughes’ rig count revealed. Of the total U.S. rig figure of 779, 622 of these rigs are classified as oil rigs, 155 are classified as gas rigs and two are classified as miscellaneous rigs.

In contrast to rig gains in the U.S., Canada dropped nine rigs week on week, according to the rig count. The total Canada rig count is now said to stand at 200, comprising 133 oil rigs and 67 gas rigs. The total North America rig count was shown to have stayed flat week on week at 979 rigs.

Baker Hughes’ rig count highlighted that North America has added 255 rigs year on year. The majority of these are shown to have come from the U.S. (223), while Canada is shown to have added 32 rigs. The U.S. additions comprise 168 oil rigs, 53 gas rigs and two miscellaneous rigs, while the Canada additions all come in the form of oil rigs, Baker Hughes’ count revealed.

Baker Hughes, which has issued the rotary rig counts to the petroleum industry since 1944, describes the figures as an important business barometer for the drilling industry and its suppliers. The company obtains its working rig location information in part from Enverus, which produces daily rig counts using GPS tracking units.

To contact the author, email andreas.exarheas@rigzone.com

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