While rigs in the U.S. declined for the seventh straight week, Canadian rigs experienced a bump of 11 rigs the week of Feb. 5, according to the latest North American rig count data from Baker Hughes.
Canada’s rig count rose to 242 in the week ending Feb 5. The additions were evenly split between oil drillers and gas drillers. Oil rigs are up five to 131, and six gas rigs were added to bring the total in the country to 86.
The news from the U.S. wasn’t as good—the total rig count dropped to its lowest level since March 2010. The loss of 48 rigs brought the total down to 571.
There were 31 oil rigs removed this week, bringing the total to 467. Meanwhile, gas rigs are down 17 this week for a total of 104.
There were 1,140 oil rigs operating in same week a year ago.
The hardest hit areas this week were in Texas, where rigs declined by 19 to 262. The largest declines were seen in the Granite Wash Formation, which now has eight operating rigs, and the Eagle Ford, where four rigs were removed for a total of 60 now operating.
Baker Hughes also released its monthly rig count data Feb. 5. January’s overall international rig count was 1,045, down 50 from the 1,095 counted in December 2015, and down 213 from the 1,258 counted in January 2015.
January’s international offshore rig count was 242, down eight from the 250 counted in December 2015, and down 72 from the 314 counted in January 2015.
The average U.S. rig count for January was 654, down 60 from the 714 counted in December 2015, and down 1,029 from the 1,683 counted in January 2015. The average Canadian rig count for January was 192, up 32 from the 160 counted in December 2015, and down 176 from the 368 counted in January 2015.
January’s worldwide rig count 1,891, down 78 from the 1,969 counted in December 2015, and down 1,418 from the 3,309 counted in January 2015.
Source: Baker Hughes
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