North America dropped 12 rigs week on week, in line with Baker Hughes’ newest rotary rig depend, which was launched on April 19.
Canada dropped 14 rigs whereas the U.S. added two week on week, taking the full North America rig depend right down to 746, comprising 619 rigs from the U.S. and 127 rigs from Canada, the depend outlined.
Of the full U.S. rig depend of 619, 599 are categorized as land rigs and 20 are categorized as offshore rigs. The nation has 511 oil rigs, 106 fuel rigs, and two miscellaneous rigs, in line with the depend, which confirmed that the U.S. has 555 horizontal rigs, 50 directional rigs, and 14 vertical rigs.
Week on week, the U.S. added one land rig and one offshore rig, whereas its fuel rig depend dropped by three and its oil rig depend elevated by 5, the depend outlined. Throughout the identical interval, the nation’s vertical rig depend elevated by two, its horizontal rig depend elevated by one, and its directional rig depend decreased by one, Baker Hughes revealed.
Texas added two rigs, Oklahoma and Louisiana every added one rig, and New Mexico and Ohio every misplaced one rig, week on week, the depend highlighted.
Of Canada’s whole rig depend of 127, 67 are categorized as fuel rigs and 60 are categorized as oil rigs. The nation minimize 10 oil rigs and 4 fuel rigs week on week, Baker Hughes’ depend confirmed.
The full North America rig depend is down 112 in comparison with yr in the past ranges, in line with Baker Hughes, which highlighted that the U.S. has pushed this decline, chopping 134 rigs through the interval whereas Canada’s depend elevated by 22. The U.S. has minimize 80 oil rigs, 53 fuel rigs, and one miscellaneous rig, whereas Canada has added 4 fuel rigs and 18 oil rigs, yr on yr, the rig depend revealed.
In its earlier rig depend, which was launched on April 12, Baker Hughes confirmed that North America added two rigs week on week. Whereas the U.S. dropped three rigs week on week, Canada added 5 throughout the identical interval, that depend outlined.
“The U.S. oil rig depend fell by two week on week to 506 in line with the most recent Baker-Hughes survey,” analysts at Customary Chartered famous in a report despatched to Rigzone on April 16, referring to Baker Hughes’ April 12 rig depend.
“The horizontal oil rig depend fell by two to 45, extending its keep within the slender 450-457 vary to 22 weeks. The dearth of dynamism is especially evident within the Bakken area of North Dakota and Montana, the place the rig depend has stayed at 34 for 14 weeks and has been within the 32-34 vary for 31 weeks,” they added.
“The U.S. fuel depend declined by a single rig to a 27-month low of 109, with exercise within the Haynesville area unchanged at a 43-month low of 35 rigs,” the analysts continued.
Baker Hughes’ April 5 depend confirmed that North America minimize 16 rigs week on week, its March 28 depend revealed that North America dropped 21 rigs week on week, its March 22 depend confirmed that the area minimize 43 rigs week on week, its March 15 depend confirmed that the area minimize 11 rigs week on week, and its March 8 rig depend confirmed that North America dropped 13 rigs week on week.
Baker Hughes’ March 1 rig depend revealed that North America added three rigs week on week, its February 23 rig depend confirmed that North America added two rigs week on week, and its February 16 depend confirmed that North America’s rig depend remained unchanged week on week.
The corporate’s February 9 rig depend revealed that North America elevated its rig depend by 4 rigs week on week, its February 2 depend confirmed that North America’s rig depend stayed flat week on week, and its January 26 rig depend confirmed that North America elevated its rig depend by eight rigs week on week.
Baker Hughes’ January 19 depend revealed that North America elevated its rig depend by 11 rigs week on week, its January 12 rig depend confirmed that North America elevated its rig depend by 86 rigs week on week, and its January 5 rig depend, which marked the corporate’s first rotary rig depend of 2024, confirmed that North America added 38 rigs week on week.
The corporate’s closing 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 trade since 1944, describes the figures as an vital enterprise barometer for the drilling trade and its suppliers. The corporate obtains its working rig location data partly from Enverus.
To contact the writer, electronic mail andreas.exarheas@rigzone.com