Following weeks of no change, U.S. offshore rig count slides down a notch

Baker Hughes’ weekly rig count report shows that the number of offshore rigs in the United States was one unit short last week compared to the previous three weeks while the total number of rigs operating in the U.S. slipped down to 682 from 687 units recorded during the week before.

After the fall in the offshore rig activity in May 2023 for units working in the U.S., the total number of offshore rigs held steady at 20 units until last week, when it fell to 19 units, according to Baker Hughes. In addition, offshore rigs were up by 3 units on a year-over-year basis.

Moreover, Baker Hughes’ report points out that the total number of active drilling rigs – including onshore and offshore ones – in the United States decreased by 5 units last week, going down to 682, which is lower by 71 rigs than last year’s count of 753 with oil rigs plummeting down by 48 units, gas rigs decreasing by 27 units, and miscellaneous rigs jumping up by 4 units.

When compared to the figures from the week before, oil rigs in the U.S. went down by 6 units to 546 last week while gas rigs kept the status quo at 130 units and miscellaneous rigs rose by 1 unit to 6 units.

On the other hand, the total number of active rigs in Canada rose by 10 units, reaching 169 rigs, with oil rigs climbing up by 7 units to 110 while gas rigs increased by 3 units to 59.

Furthermore, the company’s report underlines that the total number of rigs in Canada went up by 15 units from last year’s count of 154 rigs. While oil rigs moved up by 6 units last week compared to the year before, gas rigs jumped up by 9 units.