North America elevated its rig depend week on week, in line with Baker Hughes’ newest rotary rig depend, which was launched on February 9.
The area added 4 rigs through the interval, taking the entire North America rig depend as much as 855, comprising 623 rigs from the U.S. and 232 from Canada, the depend outlined. The U.S. added 4 rigs week on week, whereas Canada’s rig depend remained unchanged through the interval, the depend revealed.
Of the entire U.S. rig depend of 623, 602 rigs are categorized as land rigs and 21 are categorized as offshore rigs. The nation has 499 oil rigs, 121 gasoline rigs, and three miscellaneous rigs, Baker Hughes highlighted within the depend, which confirmed that the nation has 560 horizontal rigs, 51 directional rigs, and 12 vertical rigs.
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Week on week, the U.S. added two land rigs and two offshore rigs and its gasoline rig depend elevated by 4 throughout the identical interval, Baker Hughes outlined. Directional and horizontal rigs within the U.S. every elevated by two week on week, the depend revealed.
Canada’s whole rig depend of 232 is made up of 141 oil rigs and 91 gasoline rigs, Baker Hughes highlighted within the depend, which confirmed no change within the nation’s oil and gasoline rig depend week on week.
The full North America rig depend is down 156 in comparison with 12 months in the past ranges, in line with Baker Hughes, which highlighted that the U.S. has pushed this decline, slicing 138 rigs through the interval whereas Canada lower 18 rigs. The U.S. has lower 110 oil rigs and 29 gasoline rigs, and added one miscellaneous rig, 12 months on 12 months, whereas Canada has dropped 20 oil rigs and added two gasoline rigs 12 months on 12 months, the rig depend revealed.
In its earlier depend, which was launched on February 2, Baker Hughes confirmed that North America’s rig depend stayed flat week on week. Though the U.S. dropped two rigs week on week, Canada added two throughout the identical timeframe, that depend outlined.
“There are not any indicators but of a restoration in U.S. oil drilling after 2023’s sharp fall,” analysts at Customary Chartered mentioned in a report despatched to Rigzone on February 6, referring to Baker Hughes’ February 2 rig depend.
“The oil rig depend was unchanged at 499 within the newest Baker-Hughes survey; it has stayed in a 497-501 vary for the previous eight weeks and in a 494-505 vary for the previous 19 weeks,” they added.
In its January 26 rig depend, Baker Hughes confirmed that North America elevated its rig depend by eight rigs week on week. The U.S. added one rig week on week whereas Canada added seven throughout the identical timeframe, that depend confirmed.
In its January 19 depend, Baker Hughes confirmed that North America elevated its rig depend by 11 rigs week on week and in its January 12 depend, the corporate 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.
Baker Hughes’ closing rotary rig depend of 2023 confirmed a notable week on week and 12 months on 12 months drop for North America. The area’s rig depend decreased by 58 week on week and by 155 12 months on 12 months, 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 data partially from Enverus.
To contact the writer, e-mail andreas.exarheas@rigzone.com
