North America Adds 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 added three rigs week on week, Baker Hughes’ latest rotary rig count, which was published on December 8, showed.
The U.S. added a total of one rig and Canada added a total of two rigs week on week, taking the total North America rig count up to 820, Baker Hughes outlined. The total North America rig count comprises 626 rigs from the U.S. and 194 rigs from Canada, the count highlighted.
Of the total U.S. rig count of 626, 605 are categorized as land rigs and 21 are categorized as offshore rigs, the count pointed out. The total U.S. rig count is made up of 503 oil rigs, 119 gas rigs, and four miscellaneous rigs, Baker Hughes revealed.
Week on week, the U.S. added two land rigs and dropped one inland water rig, according to the count, which showed that the country cut two oil rigs and added three gas rigs week on week. Louisiana added three rigs, Texas added two, and West Virginia added one rig week on week, while New Mexico dropped four and Pennsylvania cut one during the same timeframe, the count outlined.
Canada’s rig count of 194 comprises 120 oil rigs and 74 gas rigs, Baker Hughes revealed. The country added four gas rigs and dropped two oil rigs week on week, the company showed.
Baker Hughes’ latest rig count outlined that North America is down 162 rigs on year ago figures and showed that the U.S. has driven this decline, cutting 154 rigs during the period while Canada dropped eight rigs. The U.S. has cut 122 oil rigs and 34 gas rigs, and added two miscellaneous rigs, year on year, while Canada has dropped 11 oil rigs and added three gas rigs year on year, the rig count revealed.
In its previous rig count, which was released on December 1, Baker Hughes showed that North America dropped two rigs week on week. The U.S. added three rigs week on week and Canada cut five during the same timeframe, that count outlined.
“The U.S. oil rig count rose by five week on week to 505 according to the latest Baker-Hughes survey; the year on year decline stands at 122 rigs (19.5 percent),” analysts at Standard Chartered stated in a report sent to Rigzone on December 5, referring to Baker Hughes’ December 1 rig count.
“The largest increase was in the Texas part of the Delaware Basin where oil activity gained three to 75 rigs, while oil activity in the New Mexico part of the basin was unchanged at 99 rigs,” they added.
“Elsewhere in the Permian Basin, Midland Basin activity was unchanged at 113 rigs and other Permian activity was unchanged at 23 rigs. The U.S. gas rig fell by a single rig to 116, taking the year on year decline to 39 rigs (25.2 percent),” they continued.
In its November 22 rig count, Baker Hughes showed that North America added five rigs week on week. The U.S. added four rigs and Canada added one rig week on week, that count showed. Baker Hughes’ November 17 count revealed that North America dropped one rig week on week, its November 10 rig count showed North America added one rig week on week, and its November 3 count showed North America dropped seven rigs week on week.
Baker Hughes’ October 27 count revealed that North America cut one rig week on week, its October 20 count revealed that North America added seven rigs week on week, and its October 13 count revealed that the region stopped a streak of rig losses and added a total of 16 rigs week on week.
Baker Hughes’ October 6 rig count highlighted that North America cut 15 rigs week on week, its September 29 rig count showed that North America dropped six rigs week on week, and its September 22 count revealed that North America went back to losing rigs week on week. Baker Hughes’ September 15 count showed that North America had broken a string of consecutive weekly rig losses.
The company’s September 8 count revealed that North America’s rig count dropped by four week on week, its September 1 count showed that North America cut four rigs week on week, its August 25 count showed that North America dropped nine rigs week on week, and its August 18 count showed that the region cut 13 rigs week on week. Baker Hughes’ August 11 count showed that North America dropped three rigs week on week and its August 4 count showed that North America dropped 10 rigs week on week.
Baker Hughes’ July 28 count revealed that North America added one rig week on week, its July 21 count showed that North America lost six rigs week on week, and its July 14 count showed that North America added seven rigs week on week. The company’s July 7 count highlighted that the region added 14 rigs week on week, and its June 30 count showed that the region dropped 10 rigs week on week.
Prior to the rig count released on June 30, North America had been on a streak of rig additions. The company’s June 23 count outlined that North America increased its rig count by five week on week and its June 16 count showed that North America added 15 rigs week on week. In the rig count prior to that, which was published on June 9, Baker Hughes revealed that North America had finally broken a rig loss streak which had gone on for several weeks. The region was shown in that count to have added 38 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.
by Andreas Exarheas
click here to read the original article at Rigzone.com
*this article was not written by Roseland Oil & Gas