North America dropped six rigs week on week, in accordance with Baker Hughes’ newest rotary rig rely, which was launched on Might 3.
The U.S. dropped eight rigs week on week, whereas Canada added two rigs, taking the overall North America rig rely right down to 725, comprising 605 rigs from the U.S. and 120 rigs from Canada, Baker Hughes’ newest rig rely outlined.
Of the overall U.S. rig rely of 605, 587 are categorized as land rigs and 18 are categorized as offshore rigs. This complete rig rely is made up of 499 oil rigs, 102 fuel rigs, and 4 miscellaneous rigs, Baker Hughes identified. The nation has 552 horizontal rigs, 40 directional rigs, and 13 vertical rigs, the corporate revealed.
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Week on week, the U.S. dropped 9 land rigs and added one offshore rig, and lower seven oil rigs and three fuel rigs, whereas including two miscellaneous rigs, the rely highlighted. The nation dropped seven directional rigs and one vertical rig throughout the identical timeframe, Baker Hughes confirmed within the rely.
Texas and Alaska every dropped 5 rigs week on week, and Utah dropped one, whereas Louisiana added two and New Mexico added one rig week on week, Baker Hughes’ rely outlined.
Canada’s complete rig rely of 120 contains 60 oil rigs and 60 fuel rigs, the rely revealed. The nation dropped two fuel rigs week on week and added 4 oil rigs, Baker Hughes confirmed.
The full North America rig rely is down 116 in comparison with 12 months in the past ranges, in accordance with Baker Hughes, which highlighted that the U.S. has pushed this decline, reducing 143 rigs throughout the interval whereas Canada’s rely elevated by 27. The U.S. has lower 89 oil rigs, 55 fuel rigs, and added one miscellaneous rig, whereas Canada has added one fuel rig and 26 oil rigs, 12 months on 12 months, the rig rely revealed.
In its earlier rig rely, which was launched on April 26, Baker Hughes confirmed that North America dropped 15 rigs week on week. Canada lower 9 rigs week on week whereas the U.S. dropped six rigs, that rely outlined.
“The U.S. oil rig rely fell by 5 week on week to 506, in accordance with the most recent Baker-Hughes survey,” analysts at Normal Chartered mentioned in a report despatched to Rigzone on April 30, referring to Baker Hughes’ April 26 rig rely.
“The 12 months on 12 months decline stands at 85 rigs (14.4 %). The biggest change was offshore Louisiana the place oil exercise fell by three week on week to 13 rigs,” they added.
“The horizontal oil rig rely (a proxy for shale oil exercise) is unchanged 12 months thus far after falling by two week on week to 457. The Bakken area of North Dakota and Montana has been notably undynamic; the rig rely has been 34 for the previous 16 weeks and in a 32-34 vary for 33 weeks,” they continued.
“The U.S. fuel rely declined by a single rig to a 28-month low of 105; the 12 months on 12 months fall of 56 rigs (34.8 %) has been concentrated within the Haynesville area the place exercise has fallen 34 12 months on 12 months to a 44-month low of 35 rigs,” the analysts went on to state.
Baker Hughes’ April 19 rely confirmed that North America dropped 12 rigs week on week and its April 12 rely confirmed that North America added two rigs week on week.
The corporate’s April 5 rely confirmed that North America lower 16 rigs week on week, its March 28 rely revealed that North America dropped 21 rigs week on week, its March 22 rely confirmed that the area lower 43 rigs week on week, its March 15 rely confirmed that the area lower 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 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 accordance with that rely, 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 necessary enterprise barometer for the drilling trade and its suppliers. The corporate obtains its working rig location data partly from Enverus.
To contact the writer, e-mail andreas.exarheas@rigzone.com
