North America added six rigs week on week, based on Baker Hughes’ newest North America rotary rig depend, which was revealed on January 23.
The overall U.S. rig depend rose by one week on week and the entire Canada rig depend elevated by 5 throughout the identical interval, pushing the entire North America rig depend as much as 775, comprising 544 rigs from the U.S. and 231 rigs from Canada, the depend outlined.
Of the entire U.S. rig depend of 544, 526 rigs are categorized as land rigs, 15 are categorized as offshore rigs, and three are categorized as inland water rigs. The overall U.S. rig depend is made up of 411 oil rigs, 122 fuel rigs, and 11 miscellaneous rigs, based on Baker Hughes’ depend, which revealed that the U.S. complete contains 476 horizontal rigs, 55 directional rigs, and 13 vertical rigs.
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Week on week, the U.S. land rig depend rose by two, its offshore rig depend dropped by one, and its inland water rig depend remained unchanged, Baker Hughes highlighted. The U.S. oil rig depend rose by one week on week, whereas its fuel and miscellaneous rig counts remained unchanged week on week, the depend confirmed. The U.S. horizontal and vertical rig counts every elevated by one week on week, and the nation’s directional rig depend dropped by one throughout the identical interval, the depend revealed.
A significant state variances subcategory included within the rig depend confirmed that, week on week, Louisiana dropped two rigs, Utah dropped one rig, Colorado added two rigs, and Wyoming and Texas every added one rig. A significant basin variances subcategory included within the rig depend confirmed that, week on week, the DJ-Niobrara basin added two rigs.
Canada’s complete rig depend of 231 is made up of 158 oil rigs and 73 fuel rigs, Baker Hughes identified. Week on week, the nation’s oil rig depend elevated by eight, its fuel rig depend dropped by three, and its miscellaneous rig depend remained unchanged, the depend revealed.
The overall North America rig depend is down 46 rigs in comparison with yr in the past ranges, based on Baker Hughes’ depend, which confirmed that the U.S. has minimize 32 rigs and Canada has minimize 14 rigs, yr on yr. The U.S. has dropped 61 oil rigs and added 23 fuel rigs and 6 miscellaneous rigs, whereas Canada has dropped 16 oil rigs and added two fuel rigs, yr on yr, the depend outlined.
In a J.P. Morgan report dated January 23, which was despatched to Rigzone by the JPM Commodities Analysis staff on Monday, J.P. Morgan analysts famous that “complete U.S. oil and fuel rigs elevated by one this week to 544, based on Baker Hughes”.
“Oil targeted rigs elevated by one to 411, after rising by one the earlier week. In the meantime, pure fuel targeted rigs remained unchanged at 122, following a lower of two rigs final week,” they added.
“The rig depend within the 5 main tight oil basins – we use the EIA [U.S. Energy Information Administration] basin definition – elevated by three to 387 rigs, whereas the rig depend within the two main tight fuel basins additionally remained unchanged at 86. Miscellaneous rigs remained unchanged at 11 rigs,” they continued.
“Drilling exercise stays broadly flat, with minimal WoW adjustments. The one notable motion was a acquire of three rigs within the Niobrara, partly offset by losses in areas outdoors the DPR protection,” they mentioned.
In Friday’s report, the J.P. Morgan analysts went on to state that “market consideration is now totally targeted on the approaching winter storm anticipated to hit massive components of the U.S. this weekend”. They identified that Texas had already issued catastrophe declarations for 134 counties.
“The storm is anticipated to be one of the extreme since 2021, with chilly situations prone to persist for at the least two days,” the analysts mentioned within the report.
“Early manufacturing updates are already indicating the rising affect of the freeze-offs,” they added.
“General, we estimate that U.S. crude provide will decline by roughly 260-280,000 barrels per day in January in comparison with December, barely beneath the 300,000 barrel per day decline seen in January 2025 and effectively beneath the 780,000 barrel per day drop recorded in January 2024,” they continued.
In its earlier depend, which was revealed on January 16, Baker Hughes confirmed that North America added 28 rigs week on week. The overall U.S. rig depend dropped by one week on week and the entire Canada rig depend elevated by 29 throughout the identical interval, that depend confirmed.
Baker Hughes’ January 9 rig depend revealed that North America added 94 rigs week on week, its December 30 rig depend confirmed that North America dropped 16 rigs week on week, its December 23 depend revealed that North America dropped 64 rigs week on week, and its December 19 rig depend revealed that North America’s rig depend dropped by 13 week on week.
In response to month-to-month rig depend abstract figures in Baker Hughes’ newest depend, the North America rig depend stood at 733 in January 2026 and 718 in December 2025. The most recent depend outlined that that the North America rig depend stood at 739 in November 2025, 741 in October 2025, 728 in September 2025, 717 in August 2025, 707 in July 2025, 687 in June 2025, 690 in Could 2025, 725 in April 2025, 786 in March 2025, 836 in February 2025, and 791 in January 2025.
Archived Baker Hughes information, which Rigzone was directed to by the Baker Hughes staff, outlined that the North America rig depend stood at 751 in December 2024, 789 in November 2024, 804 in October, September, and August 2024, 779 in July 2024, 750 in June 2024, 722 in Could 2024, 748 in April 2024, 822 in March 2024, 855 in February 2024, and 818 in January 2024.
This information outlined that, in 2023, the North America rig depend stood at 784 in December, 816 in November, 814 in October, 819 in September, 836 in August, 858 in July, 832 in June, 817 in Could, 861 in April, 948 in March, 1,006 in February, and 998 in January.
Going additional again, this information outlined that, in 2020, the North America rig depend stood at 432 in December, 405 in November, 361 in October, 316 in September, 303 in August, 288 in July, 292 in June, 371 in Could, 598 in April, 904 in March, 1,039 in February, and 996 in January.
Baker Hughes states on its website that it has issued rig counts as a service to the petroleum trade since 1944, when Baker Hughes Software Firm started weekly counts of U.S. and Canadian drilling exercise. On its website, the corporate describes the figures as “an vital enterprise barometer for the drilling trade and its suppliers”. The corporate notes on its website that working rig location data is offered partly by Enverus.
To contact the writer, e mail andreas.exarheas@rigzone.com
