North America added 5 rigs week on week, in accordance with Baker Hughes’ newest North America rotary rig depend, which was printed on February 28.
The U.S. added one rig week on week, and Canada added 4 rigs throughout the identical interval, taking the full North America rig depend as much as 841, comprising 593 rigs from the U.S. and 248 rigs from Canada, the depend outlined.
Of the full U.S. rig depend of 593, 578 rigs are categorized as land rigs, 13 are categorized as offshore rigs, and two are categorized as inland water rigs. The full U.S. rig depend is made up of 486 oil rigs, 102 fuel rigs, and 5 miscellaneous rigs, in accordance with the depend, which revealed that the U.S. complete contains 533 horizontal rigs, 48 directional rigs, and 12 vertical rigs.
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Week on week, the U.S. land rig depend elevated by two, the nation’s offshore rig depend decreased by one, and its inland water rig depend remained unchanged, the depend highlighted. The U.S. oil rig depend dropped by two, its fuel rig depend elevated by three, and its miscellaneous rig depend remained unchanged, week on week, the depend confirmed. Baker Hughes’ depend revealed that the U.S. horizontal rig depend elevated by three week on week, whereas the nation’s directional and vertical rig counts every decreased by one through the interval.
A serious state variances subcategory included within the rig depend confirmed that, week on week, Texas added two rigs and Louisiana dropped one rig. A serious basin variances subcategory included in Baker Hughes’ rig depend confirmed that the Haynesville and Permian basins every added one rig, week on week.
Canada’s complete rig depend of 248 is made up of 177 oil rigs and 71 fuel rigs, Baker Hughes identified. The nation’s fuel rig elevated by one, its oil rig depend elevated by three, and miscellaneous rig counts remained unchanged, week on week, the depend confirmed.
The full North America rig depend is down 19 in comparison with 12 months in the past ranges, in accordance with Baker Hughes’ depend, which confirmed that the U.S. has reduce 36 rigs and Canada has added 17 rigs, 12 months on 12 months. The U.S. has dropped 17 fuel rigs and 20 oil rigs, and added one miscellaneous rig, whereas Canada has added 33 oil rigs and reduce 16 fuel rigs, 12 months on 12 months, the depend revealed.
In a analysis word despatched to Rigzone by the JPM Commodities Analysis staff on Friday, analysts at J.P. Morgan famous that “complete U.S oil and fuel rigs rose by one to 593 this week”.
“Oil-focused operators fell by two to 486 rigs, the primary loss in over a month. Pure gas-focused rigs rose by three to 102 rigs, the most important weekly achieve since October of final 12 months,” they added.
“The rig depend within the 5 main tight oil basins – we use the EIA basin definition – rose by one to 464 rigs … the rig depend within the main tight oil basins that we observe skilled a modest improve, with the Permian basin including one rig whereas all different areas remained unchanged,” they continued.
In its earlier rig depend, which was launched on February 21, Baker Hughes revealed that North America added three rigs week on week. The U.S. added 4 rigs week on week and Canada dropped one rig throughout the identical interval, that depend outlined.
Baker Hughes’ February 14 rig depend confirmed that North America dropped two rigs week on week, its January 31 rig depend confirmed that North America added 19 rigs week on week, its 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, its December 27 rig depend confirmed that North America dropped 71 rigs week on week, its December 20 rig depend revealed that North America misplaced 25 rigs week on week, its December 13 rig depend revealed that North America misplaced three rigs week on week, and its December 6 rig depend revealed that North America misplaced 4 rigs week on week. The corporate’s November 27 depend confirmed that North America’s complete rig depend elevated by three week on week.
Baker Hughes, which has issued rotary rig counts since 1944, describes the figures as an essential enterprise barometer for the drilling trade and its suppliers. The corporate notes that working rig location info is offered partly by Enverus.
To contact the writer, e mail andreas.exarheas@rigzone.com
