North America gained 17 rigs week on week, based on Baker Hughes’ newest rotary rig depend, which was printed on July 26.
The U.S. added three rigs and Canada added 14 rigs week on week, taking the full North America rig depend as much as 800 rigs, comprising 589 from the U.S. and 211 from Canada, the depend outlined.
Of the full U.S. rig depend of 589, 568 are categorized as land rigs and 21 are categorized as offshore rigs. The nation’s whole rig depend includes 482 oil rigs, 101 gasoline rigs, and 6 miscellaneous rigs, Baker Hughes highlighted. The entire U.S. rig depend is made up of 523 horizontal rigs, 49 directional rigs, and 17 vertical rigs, Baker Hughes revealed.
- Advertisement -
Week on week, the U.S. added 4 land rigs and dropped one offshore rig, based on the depend, which confirmed that the nation’s oil rig depend elevated by 5 and its gasoline rig depend dropped by two throughout the identical timeframe. The U.S. added three horizontal rigs and one directional rig, and dropped one vertical rig, week on week, Baker Hughes’ depend confirmed.
Oklahoma added two rigs, and North Dakota and Alaska every added one rig, week on week, whereas Louisiana dropped one rig throughout the identical interval, the depend outlined.
Canada’s whole rig depend of 211 is made up of 144 oil rigs and 67 gasoline rigs, the depend identified. Canada added 14 oil rigs and one gasoline rig, and dropped one miscellaneous rig, week on week, the depend highlighted.
The entire North America rig depend is down 57 in comparison with 12 months in the past ranges, based on Baker Hughes, which outlined that the U.S. has pushed this decline, chopping 75 rigs throughout the interval whereas Canada’s depend elevated by 18. The U.S. has minimize 47 oil rigs, 27 gasoline rigs, and one miscellaneous rig, whereas Canada has added 23 oil rigs and dropped 5 gasoline rigs, 12 months on 12 months, the rig depend revealed.
“The rig depend within the 5 main tight oil basins rose by two because the Anadarko, Bakken, and Eagle Ford every added one rig, the Permian misplaced one, and the Niobrara stayed flat,” analysts at J.P. Morgan acknowledged in a drilling-focused analysis observe despatched to Rigzone by the JPM Commodities Analysis workforce on Friday.
“Though the rig depend rose by solely two, that is the most important rig improve noticed within the main tight oil basins since April,” the analysts added.
“Whereas we don’t count on a fabric improve in oil drilling over the upcoming weeks, this optimistic print additional helps our view that main tight oil drilling exercise might have reached its backside in June,” the analysts continued.
In its earlier rig depend, which was printed on July 19, Baker Hughes revealed that North America added 10 rigs week on week. The U.S. added two rigs and Canada added eight rigs week on week, that depend confirmed.
Baker Hughes’ July 12 depend confirmed that North America added 13 rigs week on week, its July 5 depend revealed that North America added three rigs week on week, its June 28 depend additionally confirmed that North America added three rigs week on week, its June 21 rig depend revealed that North America added 4 rigs week on week, and its June 14 depend confirmed that North America added 13 rigs week on week.
The corporate’s June 7 depend revealed that North America added 9 rigs week on week, its Might 31 depend confirmed that North America added eight rigs week on week, and its Might 24 rig depend highlighted that North America added two rigs week on week.
Baker Hughes’ Might 17 depend revealed that North America dropped one rig week on week, its Might 10 depend confirmed that North America dropped six rigs week on week, and its Might 3 depend additionally confirmed that North America dropped six rigs week on week. The corporate’s April 26 depend confirmed that North America dropped 15 rigs week on week and its April 19 depend confirmed that North America minimize 12 rigs week on week.
Baker Hughes’ April 12 depend revealed that North America added two rigs week on week, and its April 5 depend confirmed that North America minimize 16 rigs week on week.
The corporate’s March 28 depend revealed that North America dropped 21 rigs week on week, its March 22 depend confirmed that the area minimize 43 rigs week on week, its March 15 depend confirmed that the area minimize 11 rigs week on week, and its March 8 rig depend confirmed that North America dropped 13 rigs week on week.
Baker Hughes’ March 1 rig depend revealed that North America added three rigs week on week, its February 23 rig depend confirmed that North America added two rigs week on week, and its February 16 depend confirmed that North America’s rig depend remained unchanged week on week.
The corporate’s February 9 rig depend revealed that North America elevated its rig depend by 4 rigs week on week, its February 2 depend confirmed that North America’s rig depend stayed flat week on week, and its January 26 rig depend confirmed that North America elevated its rig depend by eight rigs week on week.
Baker Hughes’ January 19 depend revealed that North America elevated its rig depend by 11 rigs week on week, its January 12 rig depend confirmed that North America elevated its rig depend by 86 rigs week on week, and its January 5 rig depend, which marked the corporate’s first rotary rig depend of 2024, confirmed that North America added 38 rigs week on week.
The corporate’s closing rotary rig depend of 2023 confirmed a notable week on week and 12 months on 12 months drop for North America. The area’s rig depend decreased by 58 week on week and by 155 12 months on 12 months, based on that depend, which was launched on December 29.
Baker Hughes, which has issued the rotary rig counts to the petroleum trade since 1944, describes the figures as an necessary enterprise barometer for the drilling trade and its suppliers. The corporate obtains its working rig location data partly from Enverus.
To contact the writer, electronic mail andreas.exarheas@rigzone.com
