North America Adds More Rigs
by Andreas Exarheas
click here to read the original article at Rigzone.com
*this article was not written by Roseland Oil & Gas
North America has added more rigs week on week, according to Baker Hughes’ latest rotary rig count, which was published on June 16.
Although the U.S. dropped eight rigs week on week, Canada added 23 during the same timeframe, bringing the total North America rig count up by 15 week on week to total 846, comprising 687 rigs from the U.S. and 159 from Canada, the Baker Hughes’ rig count outlined.
The U.S. land rig count decreased by eight week on week, Baker Hughes’ count showed. The country had five fewer gas rigs and four fewer oil rigs week on week, while its miscellaneous rig count increased by one during the same timeframe, according to the count, which revealed that Louisiana, New Mexico, Pennsylvania, Oklahoma, and West Virginia dropped rigs week on week, while Alaska and Ohio added rigs.
Oklahoma, Pennsylvania, and West Virginia each cut two rigs week on week, Louisiana dropped three, and New Mexico dropped four rigs, the count revealed. Alaska was shown to have added two rigs and Ohio three rigs week on week.
Of the total U.S. rig count of 687, 665 are land rigs, 20 are offshore rigs, and two are inland water rigs, Baker Hughes highlighted. The country is shown to have 552 oil rigs, 130 gas rigs, and five miscellaneous rigs.
Canada has added 18 oil rigs and five gas rigs week on week, according to the latest Baker Hughes rig count. Of the total Canada rig count of 159, 103 rigs are classified as oil rigs and 56 are classified as gas rigs.
Baker Hughes’ rig count highlighted that North America is down 50 rigs on year ago figures and showed that the U.S. has driven this decline, dropping 53 rigs compared to Canada’s addition of three. The U.S. has dropped 32 oil rigs and 24 gas rigs, and added three miscellaneous rigs, year on year, while Canada has dropped one oil rig and added four gas rigs year on year, the rig count revealed.
Baker Hughes’ previous rig count, which was posted on June 9, revealed that North America had finally broken a rig loss streak. The region was shown in that count to have added 38 rigs week on week.
In the rig count before that, which was published on June 2, Baker Hughes outlined that North America had dropped five rigs week on week, and in the count before that, which was posted on May 26, Baker Hughes revealed that North America had dropped seven rigs week on week. The count prior to that, which was posted on May 19, showed that the region dropped 20 rigs week on week, and the rig count before that one, which was posted on May 12, showed that North America dropped 16 rigs week on week.
Baker Hughes’ May 5 count showed that North America cut seven rigs week on week, its April 28 count showed that North America dropped 10 rigs week on week, its April 21 count showed that the region dropped one rig week on week, and its April 14 count showed that the region dropped 19 rigs week on week. Baker Hughes’ rig count published on April 6 revealed that the region dropped 16 rigs week on week, its March 31 rig count showed that North America cut 29 rigs week on week, its March 24 count showed that the region dropped 38 rigs week on week, and its March 17 rig count showed that the region dropped eight rigs week on week.
Baker Hughes’ March 10 rig count showed a 26-rig week on week drop in North America and its March 3 count also revealed that North America had cut two rigs week on week.
Baker Hughes, which has issued the rotary rig counts to the petroleum industry since 1944, describes the figures as an important business barometer for the drilling industry and its suppliers. The company obtains its working rig location information in part from Enverus, which produces daily rig counts using GPS tracking units.
by Andreas Exarheas
click here to read the original article at Rigzone.com
*this article was not written by Roseland Oil & Gas