North America added three rigs week on week, based on Baker Hughes’ newest North America rotary rig rely, which was revealed on November 27.
The U.S. lower one rig week on week and Canada added 4 rigs throughout the identical timeframe, taking the overall North America rig rely as much as 787, comprising 582 rigs from the U.S. and 205 rigs from Canada, the rely outlined.
Of the overall U.S. rig rely, 567 are categorized as land rigs, 13 are categorized as offshore rigs, and two are categorized as inland water rigs. The overall U.S. rig rely is made up of 477 oil rigs, 100 gasoline rigs, and 5 miscellaneous rigs, based on the rely, which highlights that this complete contains 521 horizontal rigs, 45 directional rigs, and 16 vertical rigs.
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Week on week, the U.S. has dropped one land rig, the rely confirmed. Throughout the identical interval, its oil rig rely dropped by two, whereas its gasoline rig rely elevated by one, and its directional rig rely dropped by one, the rely revealed.
Underneath a subcategory of main state variances included within the rely, Wyoming was proven to have dropped one rig week on week.
Canada’s complete rig rely of 205 is made up of 134 oil rigs, 70 gasoline rigs, and one miscellaneous rig, the rely highlighted. Week on week, Canada’s gasoline rig rely elevated by three and its oil rig rely elevated by one, the rely confirmed.
The overall North America rig rely is down 30 rigs in comparison with yr in the past ranges, based on Baker Hughes, which outlined that the U.S. has pushed this decline, slicing 43 rigs through the interval whereas Canada’s rely elevated by 13. The U.S. has lower 28 oil rigs and 16 gasoline rigs, whereas its miscellaneous rely elevated by one, and Canada has added 12 oil rigs and one miscellaneous rig, yr on yr, the rely revealed.
In a analysis observe despatched to Rigzone on Friday by the JPM Commodities Analysis workforce, J.P. Morgan analysts highlighted that “complete U.S. oil and gasoline rigs fell by one to 582 this week, based on Baker Hughes”.
“Oil targeted operators fell by two to 477 rigs, after final week’s achieve of 1. Pure gasoline targeted rigs rose by one to 100 rigs, after final week’s lack of two,” they added.
“This week, the rig rely within the main tight oil basins decreased by one because the Niobrara misplaced one rig and all different basins remained flat. Following final week’s enhance of 4 rigs, the rely has barely retreated however nonetheless exhibits a internet achieve of three rigs over the previous two weeks,” they continued.
“On common, drilling exercise within the basins we monitor was two rigs larger than in October, pushed by elevated exercise in each the Anadarko and Eagle Ford Basins. As of as we speak, the rig rely is simply 10 beneath our projections; nonetheless, we proceed to anticipate that manufacturing in December will common 13.55 million barrels per day,” the analysts went on to state.
In its earlier rig rely, which was revealed November 22, Baker Hughes revealed that North America’s complete rig rely remained unchanged week on week. That rely confirmed that the U.S. dropped one rig week on week and Canada added one rig throughout the identical timeframe.
Baker Hughes’ November 15 rig rely revealed that North America dropped eight rigs week on week, its November 8 rig rely confirmed that North America dropped six rigs week on week, its November 1 rely confirmed that North America dropped three rigs week on week, and its October 25 rely revealed that North America dropped one rig week on week. The corporate’s October 18 rely revealed that North America dropped three rigs week on week and its October 11 rig rely additionally confirmed 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 Could 31 rely confirmed that North America added eight rigs week on week, and its Could 24 rig rely highlighted that North America added two rigs week on week.
The corporate’s Could 17 rely revealed that North America dropped one rig week on week, its Could 10 rely confirmed that North America dropped six rigs week on week, its Could 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 remaining rotary rig rely of 2023 confirmed a notable week on week and yr on yr drop for North America. The area’s rig rely decreased by 58 week on week and by 155 yr on yr, based on that rely, which was launched on December 29.
Baker Hughes, which has issued rotary rig counts to the petroleum business since 1944, describes the figures as an vital enterprise barometer for the drilling business and its suppliers. The corporate notes that working rig location info is offered partially by Enverus.
To contact the writer, electronic mail andreas.exarheas@rigzone.com
