North America added three rigs week on week, in keeping with Baker Hughes’ newest North America rotary rig rely, which was printed on January 30.
The whole U.S. rig rely rose by two week on week and the whole Canada rig rely elevated by one throughout the identical interval, pushing the whole North America rig rely as much as 778, comprising 546 rigs from the U.S. and 232 rigs from Canada, the rely outlined.
Of the whole U.S. rig rely of 546, 529 rigs are categorized as land rigs, 14 are categorized as offshore rigs, and three are categorized as inland water rigs. The whole U.S. rig rely is made up of 411 oil rigs, 125 fuel rigs, and 10 miscellaneous rigs, in keeping with Baker Hughes’ rely, which revealed that the U.S. whole contains 478 horizontal rigs, 53 directional rigs, and 15 vertical rigs.
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Week on week, the U.S. land rig rely rose by three, its offshore rig rely dropped by one, and its inland water rig rely remained unchanged, Baker Hughes highlighted. The U.S. oil rig rely remained unchanged on week, whereas its fuel rig rely elevated by three and its miscellaneous rig rely dropped by one, the rely confirmed. The U.S. horizontal and vertical rig counts every elevated by two week on week, and the nation’s directional rig rely dropped by two throughout the identical interval, the rely revealed.
A significant state variances subcategory included within the rig rely confirmed that, week on week, Oklahoma added three rigs, North Dakota, Louisiana, and Pennsylvania every added one rig, Texas dropped three rigs, and Ohio dropped one rig. A significant basin variances subcategory included within the rig rely confirmed that, week on week, the Cana Woodford basin added 5 rigs, the Arkoma Woodford, Haynesville, Marcellus, and Williston basins every added one rig, the Granite Wash basin dropped three rigs, the Permian and Ardmore Woodford basins dropped two rigs, and the Utica basin dropped one rig.
Canada’s whole rig rely of 232 is made up of 156 oil rigs and 76 fuel rigs, Baker Hughes identified. Week on week, the nation’s oil rig rely dropped by two, its fuel rig rely elevated by three, and its miscellaneous rig rely remained unchanged, the rely revealed.
The whole North America rig rely is down 62 rigs in comparison with 12 months in the past ranges, in keeping with Baker Hughes’ rely, which confirmed that the U.S. has minimize 36 rigs and Canada has minimize 26 rigs, 12 months on 12 months. The U.S. has dropped 68 oil rigs and added 27 fuel rigs and 5 miscellaneous rigs, whereas Canada has dropped 30 oil rigs and added 4 fuel rigs, 12 months on 12 months, the rely outlined.
In a J.P. Morgan report dated January 30, which was despatched to Rigzone by the JPM Commodities Analysis group on Monday, J.P. Morgan analysts famous that “whole U.S. oil and fuel rigs elevated by two this week to 546, in keeping with Baker Hughes”.
“Oil centered rigs remained unchanged at 411, after growing by one rig the earlier week. In the meantime, pure gas-focused rigs elevated by three to 125, following an unchanged rely final week,” the analysts mentioned within the report.
“The rig rely within the 5 main tight oil basins – we use the EIA [U.S. Energy Information Administration] basin definition – rose by two to 389 rigs, whereas the rely within the two main tight fuel basins elevated by one to 87. Miscellaneous rigs decreased by one to 10 rigs,” they added.
“Drilling exercise stays broadly flat, with minimal WoW adjustments. The one notable motion was a achieve of three rigs within the Niobrara, partly offset by losses in areas outdoors the DPR protection,” they continued.
The analysts went on to state within the report that the latest weather-related disruptions within the U.S. have largely subsided, “permitting for a clearer evaluation of their influence on provide”.
“In response to our estimates, Permian oil manufacturing declined by as a lot as 1.6 million barrels per day on the peak, bottoming out at round 4.97 million barrels per day in the course of the coldest days firstly of the week,” they mentioned.
“The restoration has been regular fairly than abrupt, with output returning at a price of 300-500,000 barrels per day. As of as we speak, Permian manufacturing has rebounded to roughly 6.3 million barrels per day, leaving about 300,000 barrels per day nonetheless offline,” they added.
“On a weekly common foundation, for the week ending January 30, Permian output was nonetheless down by almost 900,000 barrels per day, reflecting the lagged results of the freeze-offs,” they famous.
The analysts acknowledged within the report that U.S. pure fuel manufacturing adopted the same sample.
“Pipeline information point out that fuel output fell by as a lot as 18 bcfd [billion cubic feet per day] on the lowest level, with round 15 bcfd already restored, suggesting a near-term return to regular ranges,” they mentioned.
The J.P. Morgan analysts went on to notice within the report that, “from a market perspective, the short-term tightening in balances – pushed by disruptions in Iran, Venezuela, Kazakhstan, and Russia – has helped push WTI costs again above $65 per barrel, reversing the weak spot seen in December and early January when costs briefly dipped under $55 per barrel”.
“Whereas the bodily disruptions are transient, the worth response might have extra lasting implications for producer conduct. In our view, the latest rally presents a tactical however significant hedging alternative for U.S. E&Ps,” they mentioned.
“At present worth ranges, many producers are prone to have adequate forward-margin visibility to lock in 2026 volumes, particularly given the heightened macro uncertainty,” they added.
“Even a partial enhance in hedge protection at present strips might considerably enhance money stream resilience if, as we count on, costs soften later within the 12 months,” they continued.
In its earlier rely, which was printed on January 23, Baker Hughes confirmed that North America added six rigs week on week. The whole U.S. rig rely rose by one week on week and the whole Canada rig rely elevated by 5 throughout the identical interval, that rely confirmed.
Baker Hughes’ January 16 rig rely confirmed that North America added 28 rigs week on week, its January 9 rig rely revealed that North America added 94 rigs week on week, and its December 30 rig rely confirmed that North America dropped 16 rigs week on week.
In response to month-to-month rig rely abstract figures in Baker Hughes’ newest rely, the North America rig rely stood at 742 in January 2026 and 718 in December 2025. The most recent rely outlined that that the North America rig rely stood at 739 in November 2025, 741 in October 2025, 728 in September 2025, 717 in August 2025, 707 in July 2025, 687 in June 2025, 690 in Could 2025, 725 in April 2025, 786 in March 2025, 836 in February 2025, and 791 in January 2025.
Archived Baker Hughes information, which Rigzone was directed to by the Baker Hughes group, outlined that the North America rig rely stood at 751 in December 2024, 789 in November 2024, 804 in October, September, and August 2024, 779 in July 2024, 750 in June 2024, 722 in Could 2024, 748 in April 2024, 822 in March 2024, 855 in February 2024, and 818 in January 2024.
This information outlined that, in 2023, the North America rig rely stood at 784 in December, 816 in November, 814 in October, 819 in September, 836 in August, 858 in July, 832 in June, 817 in Could, 861 in April, 948 in March, 1,006 in February, and 998 in January.
Going additional again, this information outlined that, in 2020, the North America rig rely stood at 432 in December, 405 in November, 361 in October, 316 in September, 303 in August, 288 in July, 292 in June, 371 in Could, 598 in April, 904 in March, 1,039 in February, and 996 in January.
Baker Hughes states on its web site that it has issued rig counts as a service to the petroleum business since 1944, when Baker Hughes Instrument Firm started weekly counts of U.S. and Canadian drilling exercise. On its web site, the corporate describes the figures as “an necessary enterprise barometer for the drilling business and its suppliers”. The corporate notes on its web site that working rig location info is offered partially by Enverus.
To contact the writer, e-mail andreas.exarheas@rigzone.com
