North America added eight extra rigs week on week, the newest rotary rig depend from Baker Hughes, which was launched on January 26, revealed.
The U.S. added one rig and Canada added seven week on week, taking the full North America rig depend to 851, comprising 621 rigs from the U.S. and 230 rigs from Canada, the depend outlined.
Of the full U.S. rig depend of 621, 602 are categorized as land rigs and 19 are categorized as offshore rigs. The entire U.S. rig depend is made up of 499 oil rigs, 119 fuel rigs, and three miscellaneous rigs, Baker Hughes revealed. This depend includes 559 horizontal rigs, 49 directional rigs, and 13 vertical rigs, in line with Baker Hughes.
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Week on week, the U.S. land rig depend elevated by two, whereas its offshore rig depend dropped by one, Baker Hughes highlighted. The nation’s oil rig depend elevated by two and its fuel rig depend dropped by one, and its directional and vertical rig counts every elevated by one, whereas its horizontal rig depend dropped by one, throughout the identical timeframe, the depend identified.
Canada’s complete rig depend of 230 is made up of 144 oil rigs and 86 fuel rigs, Baker Hughes revealed. The nation’s oil rig depend elevated by 4 week on week and its fuel rig depend elevated by three, the depend highlighted.
The entire North America rig depend is down 167 in comparison with yr in the past ranges, in line with Baker Hughes, which highlighted that the U.S. has pushed this decline, chopping 150 rigs throughout the interval whereas Canada lower 17 rigs. The U.S. has lower 110 oil rigs and 41 fuel rigs, and added one miscellaneous rig, yr on yr, whereas Canada has dropped 13 oil rigs and 4 fuel rigs yr on yr, the rig depend revealed.
In its earlier depend, which was launched on January 19, Baker Hughes confirmed that North America elevated its rig depend by 11 rigs week on week. The U.S. added one rig week on week whereas Canada added 10 throughout the identical timeframe, that depend confirmed.
“The U.S. oil rig depend fell by two week on week to 497 in line with the newest Baker-Hughes survey, solely three above mid-November’s two-year low and in a slender 494-505 vary for the seventeenth consecutive week,” analysts at Customary Chartered mentioned in a report despatched to Rigzone on January 23, referring to Baker Hughes’ January 19 rig depend.
“The most important week on week decline was the Midland Basin the place exercise fell by three to 115 rigs. Elsewhere within the Permian, oil exercise fell by one to 74 within the Texas a part of the Delaware Basin and rose by two to 91 within the New Mexico a part of the Basin; different Permian exercise rose by one to 23 rigs,” they added.
In its January 12 depend, Baker Hughes confirmed that North America elevated its rig depend by 86 rigs week on week. In its January 5 rig depend, which marked Baker Hughes’ first rotary rig depend of 2024, the corporate highlighted that North America added 38 rigs week on week.
Baker Hughes’ last 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 line with that depend, which was launched on December 29.
Baker Hughes, which has issued the rotary rig counts to the petroleum business since 1944, describes the figures as an essential enterprise barometer for the drilling business and its suppliers. The corporate obtains its working rig location info partially from Enverus.
To contact the creator, e mail andreas.exarheas@rigzone.com
