North America dropped two rigs week on week, in response to Baker Hughes’ newest North America rotary rig rely, which was launched on April 17.
Though the whole U.S. rig rely elevated by two week on week, the whole Canada rig rely decreased by 4 throughout the identical interval, taking the whole North America rig rely all the way down to 719, comprising 585 rigs from the U.S. and 134 from Canada, the rely outlined.
Of the whole U.S. rig rely of 585, 569 rigs are categorized as land rigs, 13 are categorized as offshore rigs, and three are categorized as inland water rigs. The overall U.S. rig rely is made up of 481 oil rigs, 98 gasoline rigs, and 6 miscellaneous rigs, in response to the rely, which revealed that the U.S. whole contains 527 horizontal rigs, 44 directional rigs, and 14 vertical rigs.
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Week on week, the U.S. land rig rely elevated by two, and its offshore rig rely and inland water rig rely remained unchanged, the rely highlighted. The U.S. oil rig rely elevated by one week on week, as did its gasoline rig rely, and its miscellaneous rig rely remained unchanged throughout the interval, the rely confirmed. Baker Hughes’ rely revealed that the U.S. horizontal rig rely elevated by 4, its directional rig rely dropped by two, and its vertical rig rely remained the identical, week on week.
A significant state variances subcategory included within the rig rely confirmed that, week on week, Ohio and Pennsylvania every gained two rigs, and West Virginia and California every dropped one rig. A significant basin variances subcategory included in Baker Hughes’ rig rely confirmed that the Utica basin added two rigs, and the Marcellus and Cana Woodford basins every added one rig, week on week.
Canada’s whole rig rely of 134 is made up of 87 oil rigs and 47 gasoline rigs, Baker Hughes identified. The nation’s oil rig rely dropped by 4 and its gasoline rig rely remained unchanged, week on week, the rely revealed.
The overall North America rig rely is down 27 in comparison with 12 months in the past ranges, in response to Baker Hughes’ rely, which confirmed that the U.S. has lower 34 rigs and Canada has added seven rigs, 12 months on 12 months. The U.S. has dropped 30 oil rigs and eight gasoline rigs, and added 4 miscellaneous rigs, whereas Canada has dropped 20 gasoline rigs, and added 27 oil rigs, 12 months on 12 months, the rely outlined.
In a analysis word despatched to Rigzone on Thursday by the JPM Commodities Analysis group, analysts at J.P. Morgan famous that “whole U.S. oil and gasoline rigs elevated by two to 585 this week, in response to Baker Hughes”.
“Oil targeted rigs elevated by one to 481 rigs, after shedding 9 rigs final week. Pure gas-focused rigs elevated by one to 98 rigs, after including one rig final week. The rig rely within the 5 main tight oil basins – we use the EIA [U.S. Energy Information Administration] basin definition – elevated by one to 452 rigs,” the analysts added within the word.
“The Eagle Ford basin add[ed]… one rig, whereas the rig rely in all different areas remained unchanged. This follows Eagle Ford shedding one rig final week; nonetheless, the rig rely within the basin has remained broadly steady at 52-53 rigs over the previous 11 weeks,” the analysts continued.
“The rig rely throughout main gasoline basins elevated by three, with Marcellus/Utica including one rig, whereas the rig rely in Haynesville remained unchanged. This follows Marcellus/Utica including one rig final week after seven weeks of unchanged rig rely. The Haynesville rig rely was flat final week and has elevated by three over a four-week interval,” they went on to state.
In its earlier rig rely, which was launched on April 11, Baker Hughes revealed that North America lower 22 rigs week on week. The overall U.S. rig rely decreased by seven week on week and the whole Canada rig rely decreased by 15 throughout the identical interval, that rely outlined.
Baker Hughes’ April 4 rig rely confirmed that North America lower 12 rigs week on week, its March 28 rely revealed that North America lower 18 rigs week on week, and its March 21 rig rely additionally revealed that North America lower 18 rigs week on week. The corporate’s March 14 rely confirmed that North America dropped 35 rigs week on week and its March 7 rig rely revealed North America lower 15 rigs week on week.
In its February 28 rig rely, Baker Hughes confirmed that North America added 5 rigs week on week. Its February 21 rely revealed that North America added three rigs week on week, its February 14 rig rely confirmed that North America dropped two rigs week on week, and its January 31 rig rely confirmed that North America added 19 rigs week on week.
The corporate’s January 24 rig rely revealed that North America added 12 rigs week on week, its January 17 rely confirmed that North America added 9 rigs week on week, and its January 10 rig rely outlined that North America added 117 rigs week on week.
Baker Hughes’ January 3 rig rely revealed that North America dropped one rig week on week and its December 27 rig rely confirmed that North America dropped 71 rigs week on week.
Baker Hughes, which has issued rotary rig counts since 1944, describes the figures as an vital enterprise barometer for the drilling trade and its suppliers. The corporate notes that working rig location data is supplied partly by Enverus.
To contact the creator, electronic mail andreas.exarheas@rigzone.com
