The North America rig rely stayed flat week on week, in line with Baker Hughes’ newest rotary rig rely, which was launched on February 2.
Though the U.S. dropped two rigs week on week, Canada added two throughout the identical timeframe, which led to the North America rig rely remaining at 851, the rely outlined. The U.S. makes up 619 of those rigs and Canada makes up the remaining 232, Baker Hughes identified.
Of the whole U.S. rig rely of 619, 600 are categorized as land rigs and 19 are categorized as offshore rigs. The overall U.S. rig rely is made up of 499 oil rigs, 117 gasoline rigs, and three miscellaneous rigs, in line with Baker Hughes, which highlighted that the U.S. has 558 horizontal rigs, 49 directional rigs, and 12 vertical rigs.
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Week on week, the U.S. dropped two land rigs and its gasoline rig rely decreased by two, Baker Hughes revealed. The nation’s horizontal and vertical rig counts every decreased by one, Baker Hughes outlined. New Mexico and Texas every dropped a rig, the rely confirmed.
Canada’s complete rig rely of 232 is made up of 141 oil rigs and 91 gasoline rigs, in line with Baker Hughes, which revealed that the nation’s oil rig rely dropped by three week on week, whereas its gasoline rig rely elevated by 5 week on week.
The overall North America rig rely is down 157 in comparison with 12 months in the past ranges, in line with Baker Hughes, which highlighted that the U.S. has pushed this decline, reducing 140 rigs throughout the interval whereas Canada minimize 17 rigs. The U.S. has minimize 100 oil rigs and 41 gasoline rigs, and added one miscellaneous rig, 12 months on 12 months, whereas Canada has dropped 18 oil rigs and added one gasoline rig 12 months on 12 months, the rig rely revealed.
In its earlier rely, which was launched on January 26, Baker Hughes confirmed that North America elevated its rig rely by eight rigs week on week. The U.S. added one rig week on week whereas Canada added seven throughout the identical timeframe, that rely confirmed.
“The U.S. oil rig rely rose by two week on week to 499 within the newest Baker-Hughes survey, protecting in a slim 494-505 vary for the 18th consecutive week,” analysts at Normal Chartered stated in a report despatched to Rigzone on January 30, referring to Baker Hughes’ January 26 rig rely.
“Will increase had been weighted in the direction of the Permian Basin, with Midland Basin exercise gaining two to 117 rigs and Delaware Basin gaining exercise two to 171 rigs. The 12 months on 12 months fall in oil drilling exercise stands at 110 rigs (18.1 %),” they added.
“Like oil, there has additionally been no latest pattern in gasoline drilling exercise, which has stayed within the 114-121 rigs vary for twenty-four consecutive weeks. Exercise fell by one to 119 rigs within the newest survey,” they continued.
In January 19 rely, Baker Hughes confirmed that North America elevated its rig rely by 11 rigs week on week and in its January 12 rely, the corporate confirmed that North America elevated its rig rely by 86 rigs week on week. Baker Hughes’ January 5 rig rely, which marked the corporate’s first rotary rig rely of 2024, the corporate highlighted that North America added 38 rigs week on week.
Baker Hughes’ remaining rotary rig rely of 2023 confirmed a notable week on week and 12 months on 12 months drop for North America. The area’s rig rely decreased by 58 week on week and by 155 12 months on 12 months, in line with that rely, 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 necessary enterprise barometer for the drilling business and its suppliers. The corporate obtains its working rig location info partly from Enverus.
To contact the writer, e-mail andreas.exarheas@rigzone.com
