U.S. offshore rig count comes to a standstill

Following slow and consistent growth for two weeks in a row, the number of offshore rigs in the U.S. lost its upward momentum and remained flat at 18 units last week, based on Baker Hughes’ weekly rig count report. On the other hand, the total number of rigs operating in the U.S. slipped down to 755 from 758 units during the week before.

After the rise in the number of offshore rigs working in the U.S. to 18, Baker Hughes revealed on Friday, 31 March 2023, that the number of these units remained unchanged last week. In addition, offshore rigs were up by 4 units on a year-over-year basis.

Moreover, Baker Hughes’ report outlines that the total number of active drilling rigs – including onshore and offshore ones – in the United States decreased by 3 units last week, falling to 755, which is higher by 82 rigs than last year’s count of 673 with oil rigs being up by 59 units, gas rigs going up by 22 units, and miscellaneous rigs climbing up by 1 unit.

In comparison to the figures from the week before, oil rigs in the U.S. were down by 1 unit to 592 last week while gas rigs slipped down by 2 units to 160 and miscellaneous rigs kept the status quo at 3 units.

Meanwhile, the total number of active rigs in Canada took a plunge, plummeting to 139 rigs, which is 26 units less compared to the week before with oil rigs going down by 28 units to 58 while gas rigs went up by 2 units to 81.

Furthermore, the weekly rig count report underlines that the total number of rigs in Canada jumped up by 15 units from last year’s count of 124 rigs. While oil rigs went down by 6 units last week compared to the year before, gas rigs rose by 21 units.