After two weeks of steady growth, the number of offshore rigs in the U.S. has lost its momentum and is down by two units, according to Baker Hughes’ weekly rig count report on Friday.
Baker Hughes Rig Count: U.S. +5 to 533 rigs U.S. Rig Count is up 5 from last week to 533 with oil rigs up 5 to 433, gas rigs unchanged at 99, and miscellaneous rigs unchanged at 1. U.S. Rig Count is up 264 rigs from last year’s count of 269, with oil rigs up 240 gas rigs up 26 and miscellaneous rigs down 2 to 1. The U.S. Offshore Rig Count is down 2 to 11, down 3 year-over-year. Baker Hughes Rig Count: Canada +2 to 167 rigs Canada Rig Count is up 2 from last week to 167, with oil rigs down 2 to 95, gas rigs up 4 to 72. Canada Rig Count is up 87 rigs from last year’s count of 80, with oil rigs up 56, gas rigs up 31.