North America added two rigs week on week, in accordance with Baker Hughes’ newest rotary rig depend, which was printed on February 23.
The U.S. added 5 rigs week on week, whereas Canada dropped three throughout the identical interval, taking the overall North America rig depend as much as 857, comprising 626 rigs from the U.S. and 231 from Canada, the depend outlined.
Of the overall U.S. rig depend of 626, 606 are categorized as land rigs and 20 are categorized as offshore rigs. The nation has 503 oil rigs, 120 fuel rigs, and three miscellaneous rigs, in accordance with Baker Hughes’ depend, which revealed that the U.S. has 560 horizontal rigs, 50 directional rigs, and 16 vertical rigs.
Week on week, the U.S. added 4 land rigs and one offshore rig, its oil rig depend elevated by six and its fuel rig depend dropped by one, and its vertical rig depend elevated by three whereas its directional rig depend elevated by two, the depend confirmed.
Texas and Oklahoma every added two rigs week on week, and Alaska, New Mexico, and Pennsylvania every added one rig throughout the identical interval, the depend highlighted. Ohio and West Virginia every dropped one rig week on week, the depend outlined.
Of the overall Canada rig depend of 231, 141 rigs are categorized as oil rigs and 90 are categorized as fuel rigs. The area dropped three oil rigs week on week, the depend highlighted.
The whole North America rig depend is down 140 in comparison with yr in the past ranges, in accordance with Baker Hughes, which highlighted that the U.S. has pushed this decline, reducing 127 rigs in the course of the interval whereas Canada minimize 13 rigs. The U.S. has minimize 97 oil rigs and 31 fuel rigs, and added one miscellaneous rig, yr on yr, whereas Canada has dropped 17 oil rigs and added 4 fuel rigs yr on yr, the rig depend revealed.
In its earlier depend, which was launched on February 16, Baker Hughes confirmed that North America’s rig depend remained unchanged week on week. The U.S. dropped two rigs and Canada added two rigs in the course of the interval, that depend confirmed.
“The U.S. oil rig depend fell by two week on week to 497, in accordance with the newest Baker-Hughes survey,” analysts at Commonplace Chartered mentioned in a report despatched to Rigzone on February 21, referring to Baker Hughes’ February 16 rig depend.
“The depend has been both 497 or 499 in every of the previous six weeks. Exercise is simply three rigs greater than mid-November’s two-year low and has remained in a slender 494-505 vary for 21 consecutive weeks,” they added.
“Costs have moved throughout a spread of $25 per barrel throughout that interval with out considerably influencing firm drilling choices, as per managerial statements made in the course of the present monetary reporting season,” they continued.
“Oil exercise within the Texas part of the Delaware Basin fell by two week on week to 73 rigs, leaving it a single rig above a 20-month low, whereas exercise was unchanged at 92 rigs within the New Mexico part of the basin,” the analysts went on to state.
Baker Hughes’ February 9 rig depend confirmed that North America elevated its rig depend by 4 rigs week on week, its February 2 depend confirmed that North America’s rig depend stayed flat week on week, and its January 26 rig depend confirmed that North America elevated its rig depend by eight rigs week on week.
Baker Hughes’ January 19 depend revealed that North America elevated its rig depend by 11 rigs week on week and its January 12 depend confirmed that North America elevated its rig depend by 86 rigs week on week.
Baker Hughes’ January 5 rig depend, which marked the corporate’s first rotary rig depend of 2024, highlighted that North America added 38 rigs week on week. The corporate’s remaining rotary rig depend of 2023 confirmed a notable week on week and yr on yr drop for North America. The area’s rig depend decreased by 58 week on week and by 155 yr on yr, in accordance with that depend, which was launched on December 29.
Baker Hughes, which has issued the rotary rig counts to the petroleum trade since 1944, describes the figures as an vital enterprise barometer for the drilling trade and its suppliers. The corporate obtains its working rig location info partially from Enverus.
To contact the creator, e mail andreas.exarheas@rigzone.com