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North America Rig Count Drops Again

Read Time: 2 mins

North America dropped four rigs week on week, according to Baker Hughes’ latest rotary rig count, which was released on October 21.

Baker Hughes outlined that, although the US added two rigs week on week, Canada dropped six rigs during the same timeframe, pushing the total North America rig count down. The total North America rig count now stands at 981, comprising 771 rigs from the US and 210 rigs from Canada.

The total US rig count of 771 is made up of 753 land rigs, 15 offshore rigs and three inland water rigs, with 612 rigs categorized as oil rigs, 157 as gas rigs, and two as miscellaneous rigs, according to Baker Hughes. Canada’s total rig count comprises 144 oil rigs and 66 gas rigs.

Looking at year ago figures, the rig count revealed that North America has added 275 rigs year on year, with 229 of these coming from the US and 46 coming from Canada. The US has added 169 oil rigs, 58 gas rigs and two miscellaneous rigs year on year, while Canada has added 51 oil rigs and dropped five gas rigs year on year, according to the rig count.

In its previous rig count which was released on October 14, Baker Hughes showed that North America added eight rigs week on week. In the count before that which was published on October 7, Baker Hughes highlighted that North America dropped one rig week on week, and in the count before that one which was published on September 30, Baker Hughes revealed that North America dropped another rig week on week.

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.

For more information visit www.bakerhughes.com