Conversely, Canada’s rig count was shown to have dropped by 11 week on week

The U.S. added 14 land rigs week on week, according to Baker Hughes’ latest rotary rig count, which was published on March 11.

In addition to its land rig increase week on week, the U.S. was shown to have dropped one offshore rig, taking its total weekly additions to 13. The total U.S. rig count now stands at 663, comprising 649 land rigs, 11 offshore rigs and three inland water rigs, Baker Hughes’ latest count shows. Of the total U.S. rig figure of 649, 527 rigs are classified as oil rigs, 135 are classified as gas rigs and one is classified as a miscellaneous rig.

Conversely, Canada’s rig count was shown to have dropped by 11 week on week, taking its total count down to 206. Of this total figure, 127 rigs are classified as oil rigs and 79 are classified as gas rigs. The total North America rig count now stands at 869, having added a total of two week on week, Baker Hughes’ count outlined.

Looking at year ago figures, the U.S. rig count stood at 402, according to Baker Hughes. This figure was shown to comprise 309 oil rigs, 92 gas rigs and one miscellaneous rig. Canada’s rig count stood at 116, comprising 58 oil rigs and 58 gas rigs. The total North America rig count was 518.

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.