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North American Rig Count Rises

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North America’s rig count rose by 10 week-on-week, according to Baker Hughes’ latest rotary rig count.

Six of the weekly additions came from the US in the form of land rigs and the other four came from Canada, Baker Hughes’ latest count revealed. The total rig count in North America now stands at 740 rigs, according to the company, which showed that, this time last year, the North America rig count stood at 422 rigs.

The latest US rig count currently stands at 569, comprising 552 land rigs, 15 offshore rigs and two inland water rigs, Baker Hughes highlights.

Of the total US rig figure, 467 are classified as oil rigs and 102 are classified as gas rigs. Compared to this time last year, the US rig count is shown to have increased by 249 rigs, comprising 246 extra land rigs and three additional offshore rigs.

Oil rigs have increased by 226 and gas rigs have increased by 25 compared to year ago figures, with miscellaneous rigs dropping by two rigs compared to year ago figures, according to Baker Hughes.

Canada’s rig count currently stands at 171, comprising 106 oil rigs and 65 gas rigs, Baker Hughes’ latest figures show. The company’s rig count has risen by 68 oil rigs and one gas rig, compared to year ago levels, Baker Hughes outlines.

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.

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