The number of rigs in North America dropped week on week, according to Baker Hughes’ latest rotary rig count, which was released on August 20.
North America currently has 659 rigs, the latest count shows, which marks a weekly drop of five units. While the U.S. added three rigs week on week, Canada lost eight rigs, according to Baker Hughes.
Of the three rigs added by the U.S., one was a land rig, one was an offshore rig and one was an inland water rig. The U.S. currently has 503 rigs, comprising 485 land rigs, 15 offshore rigs and three inland water rigs, Baker Hughes’ count shows. Of these 503, 405 are classified as oil rigs, 97 as gas rigs and one as a miscellaneous rig. Canada dropped five oil rigs and three gas rigs week on week. The country now has 156 rigs, comprising 95 oil rigs, 60 gas rigs and one miscellaneous rig.
Compared to year ago figures, North America has added 349 rigs, comprising 249 extra U.S. rigs and 100 additional Canada rigs. The U.S. has added 222 oil rigs and 28 gas rigs year on year, and dropped one miscellaneous rig, according to Baker Hughes’ figures. Canada has added 75 oil rigs, 24 gas rigs and one miscellaneous rig year on year.
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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