North America’s rig count fell by five last week, per Baker Hughes’ February 7 report. While the U.S. added four rigs, Canada cut nine, bringing the total to 835—586 in the U.S. and 249 in Canada. The U.S. count includes 570 land rigs, 14 offshore, and two inland water rigs, with 480 for oil, 100 for gas, and six miscellaneous. It also comprises 523 horizontal, 50 directional, and 13 vertical rigs.
The U.S. added three land rigs and one offshore rig last week, with inland water rigs unchanged, per Baker Hughes. Oil and miscellaneous rigs each rose by one, while gas rigs increased by two. The U.S. horizontal rig count grew by four, with directional and vertical rigs unchanged. Louisiana gained two rigs, while California, Texas, Utah, and Wyoming each added one. Oklahoma lost two rigs.
The Eagle Ford and Haynesville basins each gained two rigs, while Granite Wash lost one, per Baker Hughes. Canada’s rig count stands at 249, with 177 oil rigs and 72 gas rigs. Oil rigs fell by nine, while gas and miscellaneous rigs remained unchanged. North America’s rig count is down 20 from last year, with the U.S. losing 37 rigs and Canada adding 17.
The U.S. cut 21 gas and 19 oil rigs but added three miscellaneous rigs, while Canada gained 36 oil rigs and lost 19 gas rigs.Baker Hughes’ January 31 rig count showed North America added 19 rigs, with the U.S. up six and Canada up 13, bringing the total to 840.
The U.S. oil rig count rebounded by seven after a weather-related drop, reaching 479. The Midland Basin saw the biggest gain, adding five rigs to reach 107, according to Standard Chartered analysts.Baker Hughes’ rig counts showed North America lost rigs weekly in December, with drops of 71, 25, three, and four rigs.
On November 27, the count rose by three. Baker Hughes, tracking rig data since 1944, considers these figures a key industry barometer, with data partly from Enverus.
