North America dropped six rigs week on week, in accordance with Baker Hughes’ newest rotary rig rely, which was launched on November 8.
Though the overall U.S. rig rely remained unchanged week on week, the overall Canada rig rely dropped by six in the identical timeframe, taking the overall North America rig rely right down to 792, comprising 585 rigs from the U.S. and 207 rigs from Canada, Baker Hughes’ rely outlined.
Of the overall U.S. rig rely of 585, 569 are categorised as land rigs, 14 are categorized as offshore rigs, and two are categorised as an inland water rigs. The full U.S. rig rely is made up of 479 oil rigs, 102 gasoline rigs, and 4 miscellaneous rigs, in accordance with Baker Hughes, which confirmed that this whole comprised 520 horizontal rigs, 49 directional rigs, and 16 vertical rigs.
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Baker Hughes’ rely revealed that, week on week, the U.S. dropped two offshore rigs and added one land rig and one inland water rig. The nation’s oil, gasoline, and miscellaneous rig counts remained unchanged throughout the interval, the rely highlighted. The U.S. horizontal rig rely elevated by three, whereas its vertical rig rely dropped by two and its directional rig rely dropped by one, week on week, the rely confirmed.
A subcategory of main state variances within the Baker Hughes rely outlined that Louisiana dropped three rigs and Colorado dropped one rig week on week, whereas Oklahoma added two rigs, and Pennsylvania and Wyoming every added one rig.
Canada’s whole rig rely of 207 is made up of 142 oil rigs and 65 gasoline rigs, Baker Hughes’ rely revealed. The nation dropped 4 oil rigs and two gasoline rigs week on week, the rely confirmed.
The full North America rig rely is down 23 in comparison with 12 months in the past ranges, in accordance with Baker Hughes, which outlined that the U.S. has pushed this decline, chopping 31 rigs throughout the interval whereas Canada’s rely elevated by eight. The U.S. has lower 15 oil rigs and 16 gasoline rigs, whereas Canada has added 17 oil rigs, and lower 9 gasoline rigs, 12 months on 12 months, the rely revealed.
In a analysis be aware despatched to Rigzone on Friday by the JPM Commodities Analysis staff, J.P. Morgan analysts famous that “whole U.S. oil and gasoline rigs remained flat at 585 this week, in accordance with Baker Hughes”.
“Oil targeted operators remained flat at 479 rigs, following final week’s lack of one. Pure gasoline targeted rigs remained flat at 102 rigs, after final week’s achieve of 1,” the analysts added.
“The rig rely within the main tight oil basins rose by one, because the Eagle Ford gained one rig and all different areas remained unchanged. Regardless of the general stability in oil and gasoline rig counts, drilling exercise in the important thing counties we monitor for oil manufacturing rose by one,” they continued.
“The hole between the overall rig rely and the most important oil producing counties we monitor has narrowed to its lowest level this 12 months, now standing at simply 24 rigs, down from a peak of 35 rigs in August. Because the 12 months attracts to an in depth, oil drillers proceed to consolidate their efforts, concentrating on the core areas which can be pivotal for oil manufacturing,” the analysts went on to state.
In its earlier rig rely, which was launched on November 1, Baker Hughes revealed that North America dropped three rigs week on week. The full U.S. rig rely remained unchanged and the overall Canada rig rely dropped by three week on week, that rely outlined.
Baker Hughes’ October 25 rely revealed that North America dropped one rig week on week, its October 18 rely confirmed that North America dropped three rigs week on week, and its October 11 rig rely additionally revealed that North America dropped three rigs week on week.
Baker Hughes’ October 4 rely confirmed that North America added three rigs week on week and its September 27 rely revealed that North America added six rigs week on week.
The corporate’s September 20 rig rely confirmed that North America dropped 9 rigs week on week, its September 13 rig rely confirmed that North America added six rigs week on week, its September 6 rig rely revealed that North America dropped one rig week on week, and its August 30 rig rely additionally confirmed that North America dropped one rig week on week.
Baker Hughes’ August 23 rely revealed that North America added one rig week on week, its August 16 rely revealed that North America dropped two rigs week on week, and its August 9 rely confirmed that North America’s rig rely stayed flat week on week.
Baker Hughes’ August 2 rig rely confirmed that North America added 5 rigs week on week, its July 26 rely confirmed that North America added 17 rigs week on week, its July 19 rely revealed North America added 10 rigs week on week, and its July 12 rely confirmed that North America added 13 rigs week on week.
The corporate’s July 5 rely revealed that North America added three rigs week on week, its June 28 rely additionally confirmed that North America added three rigs week on week, its June 21 rig rely revealed that North America added 4 rigs week on week, and its June 14 rely confirmed that North America added 13 rigs week on week.
Baker Hughes’ June 7 rely revealed that North America added 9 rigs week on week, its Might 31 rely confirmed that North America added eight rigs week on week, and its Might 24 rig rely highlighted 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, its Might 3 rely additionally confirmed that North America dropped six rigs week on week, its April 26 rely confirmed that North America dropped 15 rigs week on week, and its April 19 rely confirmed that North America lower 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 lower 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 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 closing 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 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 notes that working rig location info is supplied partly by Enverus.
To contact the writer, e mail andreas.exarheas@rigzone.com
