According to Baker Hughes’ latest rotary drilling rig count, released on August 16, two rigs were lost in North America compared to the previous week.
The United States removed two rigs during the period, while Canada’s rig count remained unchanged from the previous week. This brought the total number of rigs in North America down to 803, including 586 in the United States and 217 in Canada, the count shows.
Of the total 586 drilling rigs in the United States, 567 are classified as land-based rigs and 19 as offshore rigs. The total number of US drilling rigs includes 483 oil rigs, 98 gas rigs and five other rigs. This makes the total number comprised of 521 horizontal rigs, 48 directional rigs and 17 vertical rigs.
The US has removed two onshore drilling rigs compared to the previous week, the count showed. The country’s oil rig count fell by two, the number of other rigs fell by one, while the number of gas rigs rose by one during the same period, Baker Hughes pointed out. The US has removed two directional drilling rigs compared to the previous week, the count showed.
Baker Hughes reported that Texas removed three rigs and Ohio added one rig compared to the previous week, while Oklahoma added two rigs compared to the previous week.
The total number of drilling rigs in Canada is 217, of which 151 are oil and 66 are gas rigs, according to the count. Canada added four oil rigs and removed three gas rigs and one other rig week-on-week, Baker Hughes said.
According to Baker Hughes, the total number of rigs in North America decreased by 28 compared to the same period last year. The US is responsible for this decrease, removing 56 rigs during this period, while Canada’s number increased by 28. As shown by the rig count, the US removed 37 oil and 19 gas rigs year-on-year, while Canada built 32 new oil and four gas rigs.
In its latest rig count released on August 9, Baker Hughes showed that North America’s rig count remained unchanged week-over-week. The U.S. added two rigs and Canada lost two rigs week-over-week, that count showed.
In a report sent to Rigzone on August 13 by Paul Horsnell, head of commodities research at Standard Chartered Bank, citing Baker Hughes’ August 9 rig count, analysts at the bank, including Horsnell, said: “According to the latest Baker Hughes survey, the number of oil rigs in the US rose by three week-on-week to 485, bringing the cumulative increase since July’s 30-month low to eight rigs.”
“The recent increase was concentrated in the Rocky Mountains, with activity in Wyoming’s Powder River Basin increasing by two rigs to ten rigs compared to the previous week and activity in Colorado’s DJ Basin increasing by one rig, also to ten rigs,” they added.
“Within the Permian Basin, activity in the Delaware Basin was flat at 171 rigs, activity in the Midland Basin was flat at 105 rigs, and activity in the rest of the Permian Basin increased by one to 28 rigs. The U.S. gas rig count fell by one to a three-year low of 97, while activity in the Haynesville region fell by two to a 47-month low of 34 rigs, just three rigs above the low reached during the pandemic,” they continued.
Baker Hughes’ August 2nd rig count showed North America added five rigs compared to the previous week, the July 26th count showed North America added 17 rigs compared to the previous week, the July 19th count showed North America added 10 rigs compared to the previous week, and the July 12th count showed North America added 13 rigs compared to the previous week.
The Company’s July 5 count showed North America added three rigs compared to the previous week, the June 28 count also showed North America added three rigs compared to the previous week, the June 21 count showed North America added four rigs compared to the previous week and the June 14 count showed North America added 13 rigs compared to the previous week.
The Baker Hughes count on June 7 showed that North America added nine rigs compared to the previous week, the May 31 count showed that North America added eight rigs compared to the previous week, and the May 24 count showed that North America added two rigs compared to the previous week.
The Company’s May 17 count showed North America lost one rig compared to the previous week, the May 10 count showed North America lost six rigs compared to the previous week, the May 3 count also showed North America lost six rigs compared to the previous week, the April 26 count showed North America lost 15 rigs compared to the previous week, and the April 19 count showed North America lost 12 rigs compared to the previous week.
Baker Hughes’ April 12 count showed North America adding two rigs compared to the previous week, and its April 5 count showed North America removing 16 rigs compared to the previous week.
The Company’s March 28 count showed 21 rigs were removed in North America compared to the previous week, the March 22 count showed 43 rigs were removed in the region compared to the previous week, the March 15 count showed 11 rigs were removed in the region compared to the previous week and the March 8 count showed 13 rigs were removed in North America compared to the previous week.
Baker Hughes’ March 1 rig count showed that North America added three rigs compared to the previous week, the February 23 count showed that North America added two rigs compared to the previous week, and the February 16 count showed that North America’s rig count was unchanged compared to the previous week.
The Company’s February 9 rig count showed that North America increased its rig count by four compared to the previous week; the February 2 count showed that North America’s rig count remained unchanged compared to the previous week, and the January 26 count showed that North America increased its rig count by eight compared to the previous week.
Baker Hughes’ January 19 count showed North America increased its rig count by 11 compared to the previous week, the January 12 count showed North America increased its rig count by 86 compared to the previous week, and the January 5 count, which was the company’s first rotary rig count of 2024, showed North America added 38 rigs compared to the previous week.
The company’s final rig count for 2023 showed a significant week-over-week and year-over-year decline for North America. According to that count, released on December 29, the region’s rig count fell by 58 week-over-week and 155 year-over-year.
Baker Hughes, which has been providing rig counts to the oil industry since 1944, calls the numbers an important business barometer for the drilling industry and its suppliers. The company gets some of its rig location information from Enverus.
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