North America dropped six rigs week on week, in keeping with Baker Hughes’ newest rotary rig depend, which was launched on Might 10.
The U.S. dropped two rigs and Canada dropped 4 rigs week on week, taking the full North America rig depend all the way down to 719, comprising 603 rigs from the U.S. and 116 rigs from Canada, the depend outlined.
Of the full U.S. rig depend of 603, 584 are categorized as land rigs and 19 are categorized as offshore rigs. The nation has 496 oil rigs, 103 fuel rigs, and 4 miscellaneous rigs, and its horizontal rig depend stands at 548, its directional rig depend stands at 40, and its vertical rig depend stands at 15, Baker Hughes revealed.
Week on week, the U.S. dropped three land rigs and added one offshore rig, and reduce three oil rigs and added one fuel rig, the depend confirmed. Its horizontal rig depend decreased by 4 and its vertical rig depend elevated by two week on week, the depend highlighted.
Louisiana, New Mexico, and Utah every added one rig week on week, whereas Texas dropped three rigs and Oklahoma reduce two rigs throughout the identical timeframe, the depend outlined.
Canada’s whole rig depend of 116 contains 56 fuel rigs and 60 oil rigs, Baker Hughes revealed. The nation reduce 4 fuel rigs week on week, the depend confirmed.
The overall North America rig depend is down 106 in comparison with 12 months in the past ranges, in keeping with Baker Hughes, which highlighted that the U.S. has pushed this decline, slicing 128 rigs in the course of the interval whereas Canada’s depend elevated by 22. The U.S. has reduce 90 oil rigs and 38 fuel rigs, whereas Canada has dropped one fuel rig and added 23 oil rigs, 12 months on 12 months, the rig depend revealed.
In its earlier rig depend, which was launched on Might 3, Baker Hughes confirmed that North America dropped six rigs week on week. The U.S. dropped eight rigs week on week whereas Canada added two rigs, that depend outlined.
“The U.S. oil rig depend fell by seven week on week to 499 in keeping with the most recent Baker-Hughes survey,” analysts at Customary Chartered Financial institution stated in a report despatched to Rigzone on Might 7, referring to Baker Hughes’ Might 3 rig depend.
“Taking the 12 months to this point change to a decline of a single rig whereas the 12 months on 12 months decline is 89 rigs (15.1 p.c). Over an extended time horizon, exercise continues to maneuver sideways; the rig depend has stayed in a 494-511 vary for the previous seven months,” they added.
“The week on week decline was concentrated in typical (i.e., vertical) wells, with the horizonal oil rig depend (a broad proxy for shale oil exercise) gaining a single rig week on week to 458; this takes it near the highest of the slender 450-459 vary it has occupied since mid-November,” they continued.
“The U.S. fuel rig depend declined by three to a 30-month low of 102; the 12 months on 12 months decline stands at 55 rigs (35.0 p.c). Fuel drilling exercise stays notably weak within the Haynesville area, the place the rig depend of 35 is a 44-month low and 33 rigs decrease 12 months on 12 months (48.5 p.c),” the analysts went on to state.
Baker Hughes’ April 26 depend confirmed that North America dropped 15 rigs week on week, its April 19 depend confirmed that North America dropped 12 rigs week on week, and its April 12 depend confirmed that North America added two rigs week on week.
The corporate’s April 5 depend confirmed that North America reduce 16 rigs week on week, its March 28 depend revealed that North America dropped 21 rigs week on week, its March 22 depend confirmed that the area reduce 43 rigs week on week, its March 15 depend confirmed that the area reduce 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 remaining 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, in keeping with that depend, which was launched on December 29.
Baker Hughes, which has issued the rotary rig counts to the petroleum business since 1944, describes the figures as an essential enterprise barometer for the drilling business and its suppliers. The corporate obtains its working rig location info partly from Enverus.
To contact the creator, e-mail andreas.exarheas@rigzone.com