North America Adds Rigs Again

by Andreas Exarheas
click here to read the article at Rigzone.com
*this article was not written by Roseland Oil & Gas

North America has added several rigs week on week, according to Baker Hughes’ latest rotary rig count, which was released on July 7.

The count showed that the region increased its rig count by 14 week on week, with the U.S. adding six rigs and Canada eight rigs during that time frame. North America’s total rig count figure is now 855, comprising 680 rigs from the U.S. and 175 rigs from Canada, the count outlined.

The total U.S. rig figure is made up of 540 oil rigs, 135 gas rigs, and five miscellaneous rigs, according to the count, which categorized 657 of the country’s total rig count as land rigs, 19 as offshore rigs, and four as inland water rigs. In the rig count, the U.S. was shown to have five fewer oil rigs and 11 more gas rigs week on week. The country’s land rig count was shown to have increased by four week on week and its inland water rig count was shown to have increased by two during that period.

Week on week, Colorado and Texas dropped rigs, while Louisiana, New Mexico, and Wyoming added rigs, the count highlighted. Colorado dropped one rig, Texas dropped four, Louisiana added seven, New Mexico added three, and Wyoming added one rig, the count revealed.

Canada’s total rig count of 175 comprises 111 oil rigs and 64 gas rigs, according to Baker Hughes’ latest count. The country was shown to have added two oil rigs and six gas rigs week on week.

Baker Hughes’ count outlined that North America is down 72 rigs on year ago figures and highlighted that the U.S. has driven this decline, cutting 72 rigs while Canada’s count stayed the same. The U.S. has dropped 57 oil rigs and 18 gas rigs, and added three miscellaneous rigs, year on year, while Canada has added five gas rigs and dropped five oil rigs year on year, the rig count revealed.

In its previous rig count, which was released on June 30, Baker Hughes revealed that North America had dropped 10 rigs week on week. Prior to that count, North America had been on a streak of rig additions, Baker Hughes’ previous counts showed. In its rig count released on June 23, the company showed that North America had increased its rig count by five week on week, and in the count before that, which was published on June 16, Baker Hughes showed that North America had added 15 rigs week on week. In the rig count prior to that one, which was published on June 9, Baker Hughes’ 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 its rig count released on June 2, Baker Hughes outlined that North America had dropped five rigs week on week, and in the count before that, which was published 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 had dropped 20 rigs week on week, and the rig count before that one, which was posted on May 12, showed that North America had 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 revealed that North America dropped 10 rigs week on week, its April 21 count revealed that the region dropped one rig week on week, and its April 14 count revealed that the region dropped 19 rigs week on week. In its April 6 count, Baker Hughes revealed that North America cut 16 rigs week on week and in its March 31 count, the company showed that North America cut 29 rigs week on week.

Baker Hughes’ March 24 count showed that the region dropped 38 rigs week on week, its March 17 rig count revealed that the region dropped eight rigs week on week, its March 10 rig count showed a 26-rig week on week drop in North America, and its March 3 count 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 article at Rigzone.com
*this article was not written by Roseland Oil & Gas