USA Rig Count Increases Again

USA Rig Count Increases Again

According to Baker Hughes’ latest rotary rig count, which was published on May 6, the United States added seven rigs week over week.

These seven weekly additions included four land rigs and three offshore rigs, bringing the total number of rigs in the United States to 705, including 688 land rigs and 17 offshore rigs, according to Baker Hughes’ latest numbers. Baker Hughes revealed that there are 705 rigs in the United States, with 557 oil rigs, 146 gas rigs, and two miscellaneous rigs.

READ:  Oil Supply, Demand and Prices Become Clear

According to Baker Hughes’ previous rig count, which was released on April 29, the US gained three rigs week over week.

According to Baker Hughes’ latest rig count, Canada’s rig numbers have declined four weeks in a row. The country’s rig count is now reported to be 91, with 42 oil and 49 gas rigs. According to Baker Hughes, the entire North American rig count has increased by three weeks this week, to 796.

READ:  Petrofac Can Now Compete For ADNOC Deals After Suspension

Looking back a year, the North American rig count climbed by 293 rigs, primarily due to the United States, which added 257 rigs, including 213 oil rigs, 43 gas rings, and one miscellaneous rig, according to Baker Hughes. The number of rigs operating in Canada has climbed by 36, with 20 oil and 16 gas rigs.

The data are a crucial commercial indicator for the drilling sector and its suppliers, according to Baker Hughes, which has been providing rotary rig counts to the petroleum industry since 1944. Enverus, which compiles daily rig counts using GPS tracking units, provides some of the company’s working rig position data.

READ:  The Dow Jones Industrial Average Declines Over 800 Points As Market Instability Continues As A Result Of The Russia-Ukraine Conflict And Inflation Worries

Comment

Your email address will not be published.