North America dropped 4 rigs week on week, in response to Baker Hughes’ newest North America rotary rig depend, which was launched on April 25.
Though the U.S. added a complete of two rigs week on week, Canada’s total rig depend decreased by six throughout the identical interval, taking the full North America rig depend right down to 715, comprising 587 rigs from the U.S. and 128 from Canada, the depend outlined.
Of the full U.S. rig depend of 587, 571 rigs are categorized as land rigs, 13 are categorized as offshore rigs, and three are categorized as inland water rigs. The whole U.S. rig depend is made up of 483 oil rigs, 99 fuel rigs, and 5 miscellaneous rigs, in response to Baker Hughes’ depend, which revealed that the U.S. complete includes 527 horizontal rigs, 45 directional rigs, and 15 vertical rigs.
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Week on week, the U.S. land rig depend elevated by two, and its offshore rig depend and inland water rig depend remained unchanged, the depend highlighted. The U.S. oil rig depend elevated by two week on week, its fuel rig depend rose by one, and its miscellaneous rig depend dropped by one, the depend confirmed. Baker Hughes’ depend revealed that the U.S. horizontal rig depend remained unchanged week on week, whereas its directional and vertical rig counts every rose by one throughout the interval.
A significant state variances subcategory included within the rig depend confirmed that, week on week, Oklahoma gained two rigs, California added one rig, and Utah dropped one rig. A significant basin variances subcategory included in Baker Hughes’ rig depend confirmed that the Granite Wash basin added two rigs, the Haynesville and Arkoma Woodford basins every added one rig, and the Ardmore Woodford and Cana Woodford basins every dropped one rig, week on week.
Canada’s complete rig depend of 128 is made up of 81 oil rigs and 47 fuel rigs, Baker Hughes identified. The nation’s oil rig depend dropped by six and its fuel rig depend remained unchanged, week on week, the depend revealed.
The whole North America rig depend is down 16 in comparison with 12 months in the past ranges, in response to Baker Hughes’ depend, which confirmed that the U.S. has lower 26 rigs and Canada has added 10 rigs, 12 months on 12 months. The U.S. has dropped 23 oil rigs and 6 fuel rigs, and added three miscellaneous rigs, whereas Canada has dropped 15 fuel rigs, and added 25 oil rigs, 12 months on 12 months, the depend outlined.
In a analysis be aware despatched to Rigzone on Friday by the JPM Commodities Analysis workforce, analysts at J.P. Morgan famous that “complete U.S. oil and fuel rigs elevated by two to 587 this week, in response to Baker Hughes”.
“Oil centered rigs elevated by two to 483 rigs, after including one rig final week. Pure gas-focused rigs elevated by one to 99 rigs, after including one rig final week,” the analysts added.
“The rig depend within the 5 main tight oil basins – we use the EIA basin definition – remained unchanged at 452 rigs. The rig depend in two main tight fuel basins elevated by one to 72 rigs,” they continued.
“This week, the rig depend throughout the most important tight oil basins remained flat, because the rig depend in all areas remained unchanged. The rig depend throughout main fuel basins elevated by one, with Haynesville including a rig. This follows a flat rig depend in Haynesville final week and represents a rise of three rigs over a four-week interval,” the analysts went on to state.
In its earlier rig depend, which was launched on April 17, Baker Hughes revealed that North America dropped two rigs week on week. The whole U.S. rig depend elevated by two week on week and the full Canada rig depend decreased by 4 throughout the identical interval, that depend outlined.
Baker Hughes’ April 11 rig depend revealed that North America lower 22 rigs week on week, its April 4 rig depend confirmed that North America lower 12 rigs week on week, its March 28 depend revealed that North America lower 18 rigs week on week, and its March 21 rig depend additionally revealed that North America lower 18 rigs week on week. The corporate’s March 14 depend confirmed that North America dropped 35 rigs week on week and its March 7 rig depend revealed North America lower 15 rigs week on week.
In its February 28 rig depend, Baker Hughes confirmed that North America added 5 rigs week on week. Its February 21 depend revealed that North America added three rigs week on week, its February 14 rig depend confirmed that North America dropped two rigs week on week, and its January 31 rig depend confirmed that North America added 19 rigs week on week.
The corporate’s January 24 rig depend revealed that North America added 12 rigs week on week, its January 17 depend confirmed that North America added 9 rigs week on week, and its January 10 rig depend outlined that North America added 117 rigs week on week.
Baker Hughes’ January 3 rig depend revealed that North America dropped one rig week on week and its December 27 rig depend 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 essential enterprise barometer for the drilling business and its suppliers. The corporate notes that working rig location data is offered partly by Enverus.
To contact the writer, e mail andreas.exarheas@rigzone.com
