North America Goes Back to Adding Rigs
by Andreas Exarheas
click here to read this article at Rigzone.com
*this article was not written by Roseland Oil & Gas
North America added six rigs week on week, according to Baker Hughes’ latest North America rotary rig count, which was published on November 7.
The total U.S. rig count increased by two week on week and the total Canada rig count increased by four during the same period, taking the total North America rig count up to 739, comprising 548 rigs from the U.S. and 191 rigs from Canada, the count outlined.
Of the total U.S. rig count of 548, 527 rigs are categorized as land rigs, 19 are categorized as offshore rigs, and two are categorized as inland water rigs. The total U.S. rig count is made up of 414 oil rigs, 128 gas rigs, and six miscellaneous rigs, according to Baker Hughes’ count, which revealed that the U.S. total comprises 478 horizontal rigs, 59 directional rigs, and 11 vertical rigs.
Week on week, the U.S. offshore and inland water rig counts remained unchanged, and the country’s land rig count increased by two, Baker Hughes highlighted. The U.S. oil rig count remained unchanged, its gas rig count increased by three, and its miscellaneous rig count dropped by one, week on week, the count showed. The U.S. horizontal and vertical rig counts remained unchanged week on week, while the country’s directional rig count increased by two during the period, the count revealed.
A major state variances subcategory included in the rig count showed that, week on week, Louisiana added two rigs, Alaska and California each added one rig, and Texas and Wyoming each dropped one rig. A major state variances subcategory included in the rig count showed that, week on week, the Haynesville basin added one rig and the Cana Woodford, Eagle Ford, and Granite Wash basins each dropped one rig week on week.
Canada’s total rig count of 191 is made up of 129 oil rigs and 62 gas rigs, Baker Hughes pointed out. Week on week, the country’s oil and gas rig counts each rose by two, the count revealed.
The total North America rig count is down 53 rigs compared to year ago levels, according to Baker Hughes’ count, which showed that the U.S. has cut 37 rigs and Canada has cut 16 rigs, year on year. The U.S. has dropped 65 oil rigs and added 26 gas rigs and two miscellaneous rigs, while Canada has dropped 13 oil rigs and three gas rigs, year on year, the count outlined.
In a J.P. Morgan research note dated November 7, which was sent to Rigzone by the JPM Commodities Research team on Monday, analysts at J.P. Morgan noted that “total U.S. oil and gas rigs increased by two this week to 552, according to Baker Hughes”.
“Oil focused rigs remained unchanged at 414, after decreasing by six rigs the previous week. Meanwhile, natural gas focused rigs rose by three to 128, following an increase of four rigs last week,” the analysts added.
by Andreas Exarheas
click here to read this article at Rigzone.com
*this article was not written by Roseland Oil & Gas