U.S. offshore rig count hits the brakes

Baker Hughes’ weekly rig count report shows that the number of offshore rigs in the United States came to a stop and remained unchanged last week. However, the total number of rigs operating in the U.S. went down to 753 from 760 units during the previous week.

After the number of offshore rigs working in the U.S. dropped to 17, Baker Hughes disclosed on Friday, 24 February 2023, that the number of these units remained unchanged last week while offshore rigs were up by 5 units on a year-over-year basis.

Moreover, the firm highlights that the total number of active drilling rigs – including onshore and offshore ones – in the United States decreased by 7 units last week, slipping to 753, which is higher by 103 rigs than last year’s count of 650 with oil rigs surging up by 78 units, gas rigs going up by 24 units, and miscellaneous rigs being up by 1 unit.

Compared to the figures from the previous week, oil rigs in the U.S. fell down by 7 units to 600 last week while gas rigs kept the status quo at 151 and miscellaneous rigs remained the same at 2 units.

Meanwhile, the total number of active rigs in Canada went down by 4 unit last week to 244 rigs compared to the week before with oil rigs down by 5 to 158 units while gas rigs were up 1 unit to 86.

Furthermore, Baker Hughes’ report showed that the total number of rigs in Canada increased by 20 units from last year’s count of 224 rigs. While oil rigs went up by 20 units last week compared to the year before, gas rigs increased by 1 unit and miscellaneous rigs decreased by 1 unit.