U.S. offshore rig count stops in its tracks

Following the rise in the number of offshore rigs, the U.S. took a break, thus, the total number remained unchanged at 20 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. jumped to 753 from 748 units during the week before.

After the rise in the number of offshore rigs working in the U.S. to 20, Baker Hughes revealed on Friday, 21 April 2023, that the number of these units remained flat last week. In addition, offshore rigs were up by 7 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 increased by 5 units last week, climbing to 753, which is higher by 58 rigs than last year’s count of 695 with oil rigs being up by 42 units, gas rigs going up by 15 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 up by 3 units to 591 last week while gas rigs inched their way up by 2 units to 159 and miscellaneous rigs kept the status quo at 3 units.

Meanwhile, the total number of active rigs in Canada took a downturn, slipping to 105 rigs, which is 6 units less compared to the week before with oil and gas rigs going down by 3 units each to 42 and 63 rigs, respectively.

Furthermore, the weekly rig count report underlines that the total number of rigs in Canada jumped up by 4 units from last year’s count of 101 rigs. While oil rigs went down by 6 units last week compared to the year before, gas rigs rose up by 10 units.