North America Stretches Rig Loss Streak Into 2025
by Andreas Exarheas
click here to read this article at Rigzone.com
*this article was not written by Roseland Oil & Gas
North America lost one rig week on week, according to Baker Hughes’ first North America rotary rig count of 2025, which was released on January 3.
Although the total U.S. rig count remained unchanged week on week, Canada’s total rig count decreased by one during the same timeframe, taking the total North America rotary rig count down to 683, comprising 589 rigs from the U.S. and 94 rigs from Canada, the count outlined.
Of the total U.S. rig count of 589, 573 rigs are categorized as land rigs, 14 are categorized as offshore rigs, and two are categorized as inland water rigs. The total U.S. rig count is made up of 482 oil rigs, 103 gas rigs, and four miscellaneous rigs, according to the count, which revealed that the U.S. total comprises 527 horizontal rigs, 49 directional rigs, and 13 vertical rigs.
Week on week, the U.S. land, offshore, and inland water rig counts remained unchanged, the count outlined. The country’s gas rig count increased by one week on week, while its oil rig count decreased by one and its miscellaneous rig count remained identical week on week, the count revealed. The U.S. horizontal, directional, and vertical rig counts remained unchanged week on week, the count highlighted.
A major state variances subcategory included in the rig count showed that Louisiana dropped one rig and Texas added one rig week on week. Texas was listed as having 285 rigs in the count. That figure marked a 23 rig reduction from year ago figures, the count outlined.
Canada’s total rig count of 94 comprises 44 oil rigs and 50 gas rigs, Baker Hughes pointed out. The country’s oil rig count remained unchanged week on week and its gas rig count dropped by one during the same timeframe, the count showed.
The total North America rig count is down 63 compared to year ago levels, according to Baker Hughes’ count, which showed that the U.S. has cut 32 rigs and Canada has cut 31 rigs year on year. The U.S. has dropped 15 gas rigs and 19 oil rigs, and added two miscellaneous rigs, while Canada has cut 14 gas rigs and 17 oil rigs, year on year, the count revealed.
In its previous rig count, which was published on December 27, Baker Hughes outlined that North America dropped 71 rigs week on week. The total U.S. rig count remained unchanged week on week and Canada’s total rig count decreased by 71 during the same timeframe, that count showed.
Baker Hughes’ December 20 rig count revealed that North America lost 25 rigs week on week, its December 13 rig count revealed that North America lost three rigs week on week, and its December 6 rig count revealed that North America lost four rigs week on week. The company’s November 27 count showed that North America’s total rig count increased by three week on week.
Baker Hughes’ first rotary rig count of 2024, which was released on January 5, 2024, showed that North America added 38 rigs week on week. The company’s final rotary rig count of 2023 showed a notable week on week and year on year drop for North America. The region’s rig count decreased by 58 week on week and by 155 year on year, according to that count, which was released on December 29, 2023.
Baker Hughes, which has issued 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 notes that working rig location information is provided in part by Enverus.
by Andreas Exarheas
click here to read this article at Rigzone.com
*this article was not written by Roseland Oil & Gas