North America added 9 rigs week on week, based on Baker Hughes’ newest rotary rig rely, which was launched on June 7.
Though the U.S. dropped six rigs week on week, Canada added 15 throughout the identical timeframe, taking the whole North America rig rely as much as 737, comprising 594 rigs from the U.S. and 143 rigs from Canada, the rely outlined.
Of the whole U.S. rig rely of 594, 572 rigs are categorised as land rigs and 22 are categorised as offshore rigs. The nation has 492 oil rigs, 98 fuel rigs, and 4 miscellaneous rigs, the rely highlighted. Of the whole U.S. rig rely determine, 531 are categorized as horizontal rigs, 43 are categorized as directional rigs, and 20 are categorized as vertical rigs.
Week on week, the U.S. dropped six land rigs, and its oil rig rely lowered by 4 whereas its fuel rig rely was minimize by two, Baker Hughes revealed. The nation minimize 5 horizontal rigs and one directional rig week on week, Baker Hughes outlined.
Oklahoma minimize 4 rigs and Louisiana, Pennsylvania, and West Virginia every minimize one rig, whereas California added one rig, week on week, the rely confirmed.
Canada’s complete rig rely of 143 is made up of 89 oil rigs and 54 fuel rigs, Baker Hughes identified. The nation’s fuel rig rely stayed flat week on week and its oil rig rely elevated by 15 in the course of the interval, Baker Hughes revealed.
The entire North America rig rely is down 94 in comparison with yr in the past ranges, based on Baker Hughes, which highlighted that the U.S. has pushed this decline, reducing 101 rigs in the course of the interval whereas Canada’s rely elevated by seven. The U.S. has minimize 64 oil rigs and 37 fuel rigs, whereas Canada has added 4 oil rigs and three fuel rigs, yr on yr, the rig rely revealed.
In its earlier rig rely, which was launched on Might 31, Baker Hughes confirmed that North America added eight rigs week on week. Though the U.S. rig rely stayed flat week on week, Canada added eight throughout the identical interval, that rely outlined.
In a report despatched to Rigzone by Customary Chartered Financial institution Commodities Analysis Head Paul Horsnell on June 4, which referred to Baker Hughes’ Might 31 rig rely, analysts on the financial institution, together with Horsnell, mentioned, “the U.S. oil rig rely fell by a single rig week on week to a six-month low of 496, based on the most recent Baker-Hughes survey”.
“The horizontal oil rig rely (a proxy for shale oil exercise) fell by two to 446, bringing the cumulative decline over the previous 4 weeks to 12 rigs. The most important week on week fall in exercise was within the SCOOP area of Oklahoma the place the rig rely fell by 4 to 12, only a single rig above the 30-month low,” they added.
“The most important single week improve was additionally in Oklahoma with exercise within the Ardmore-Woodford formation rising by three to seven rigs. Within the Permian Basin, Delaware Basin exercise fell by one to 170 rigs, Midland Basin exercise fell by two to 113 rigs and different Permian exercise rose by one to 27 rigs,” they continued.
Baker Hughes’ Might 24 rig rely confirmed that North America added two rigs week on week.
The corporate’s Might 17 rely revealed that North America dropped one rig week on week, its Might 10 rely confirmed that North America dropped six rigs week on week, and its Might 3 rely additionally confirmed that North America dropped six rigs week on week. The corporate’s April 26 rely confirmed that North America dropped 15 rigs week on week and its April 19 rely confirmed that North America minimize 12 rigs week on week.
Baker Hughes’ April 12 rely revealed that North America added two rigs week on week, and its April 5 rely confirmed that North America minimize 16 rigs week on week.
The corporate’s March 28 rely revealed that North America dropped 21 rigs week on week, its March 22 rely confirmed that the area minimize 43 rigs week on week, its March 15 rely confirmed that the area minimize 11 rigs week on week, and its March 8 rig rely confirmed that North America dropped 13 rigs week on week.
Baker Hughes’ March 1 rig rely revealed that North America added three rigs week on week, its February 23 rig rely confirmed that North America added two rigs week on week, and its February 16 rely confirmed that North America’s rig rely remained unchanged week on week.
The corporate’s February 9 rig rely revealed that North America elevated its rig rely by 4 rigs week on week, its February 2 rely confirmed that North America’s rig rely stayed flat week on week, and its January 26 rig rely confirmed that North America elevated its rig rely by eight rigs week on week.
Baker Hughes’ January 19 rely revealed that North America elevated its rig rely by 11 rigs week on week, its January 12 rig rely confirmed that North America elevated its rig rely by 86 rigs week on week, and its January 5 rig rely, which marked the corporate’s first rotary rig rely of 2024, confirmed that North America added 38 rigs week on week.
The corporate’s ultimate rotary rig rely of 2023 confirmed a notable week on week and yr on yr drop for North America. The area’s rig rely decreased by 58 week on week and by 155 yr on yr, based on 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 essential enterprise barometer for the drilling business and its suppliers. The corporate obtains its working rig location data partially from Enverus.
To contact the creator, e mail andreas.exarheas@rigzone.com