NATIONAL RIG COUNT FALLS AGAIN LOWEST IN 3 YEARS M U STEADY ...
Baker hughes drill rig count
The total number of active drilling rigs in the United States increased by 7 to 544 rigs this week, according to Baker Hughes. The rise was primarily driven by a gain of 9 gas rigs, reaching a total of 117, while oil rigs fell by 2 to 422. [pdf]FAQS about Baker hughes drill rig count
What is the Baker Hughes rig count?
The Baker Hughes rig count is an important business barometer for the oil drilling industry. When drilling rigs are active they consume products and services produced by the oil service industry. The active rig count acts as a leading indicator of demand for oil products.
How many rigs did Baker Hughes add?
We finally saw some relief last week for the Baker Hughes U.S. rig count, which added rigs for the first time in three months (12 weeks). The U.S. count added seven rigs and now stands at 544 active rigs. However, it was gas-focused rigs that saved the day.
Why did Baker Hughes rig count fall 5% in 2024?
Baker Hughes’ rig count fell 5% in 2024 following a 20% plunge in 2023. Drilling activity started 2025 the way it ended 2024: locked in a very narrow trajectory. Oilfield services firm Baker Hughes said Friday its weekly U.S. rig count was at 589 rigs for a fourth consecutive week. That’s down 32 rigs or 5% from 621 rigs counted last year.
Why are Baker Hughes rig counts important?
Because they have been compiled consistently for 70 years, Baker Hughes Rig Counts also are useful in historical analysis of the industry. The working rig location information is provided in part by Enverus.
How many rigs are drilling for natural gas?
The number of rigs drilling for natural gas was down three rigs to 83 and is down 55 rigs or 40% from 138 last year. ExxonMobil continues to lead the top 10 public companies by rig count with 35 rigs, down one for the week. ConocoPhillips remains in second, unchanged at 34 rigs, and Occidental Petroleum was also unchanged at 30 rigs.
How did the oil rig count compare to gas rigs?
Oil rigs rose by 2 to 414 during the week, while gas rigs dropped 1 to 118 and 5 rigs remained classified as miscellaneous. The total rig count was down 45 rigs, or 7.7% compared to the same time last year, while the oil rig count was down by 69 rigs, or 14.3%, and gas rigs gained 24, or 25.5% from a year earlier.
World drilling rig count
World Rig Count is at a current level of 1621.25, up from 1599.50 last month and down from 1713.00 one year ago. This is a change of 1.36% from last month and -5.36% from one year ago. View monthly updates and historical trends for World Rig Count. Source: Baker Hughes. [pdf]FAQS about World drilling rig count
What is the global rig count?
International: The international rig count stands at 919 rigs, unchanged month over month but down 59 rigs year over year, showcasing the challenges faced in global exploration and production activities. 1. Steady U.S. Activity: The stable U.S. rig count underscores resilience amidst fluctuating oil prices and geopolitical uncertainties.
How many rigs are there in the world?
In September, the total world rig count - which includes Latin America, Europe, Africa, the Middle East, Asia Pacific, Canada, and the U.S. - stood at 1760, Baker Hughes’ latest current data worldwide rig count revealed. The total world rig count stood at 1788 in August and 1853 in September last year, the count outlined.
What is the weekly rig count?
Updated each Friday, the Weekly Rig Count provides accurate offshore drilling rig data by major region and globally. Our team of global analysts compiles oil rig data daily through direct contact with rig owners and offshore operators to derive dependable figures. The rig count tables below include all jackups, semi-submersibles, and drillships.
How many oil rigs are there worldwide?
The average number of oil rigs worldwide decreased between 1975 and 2024. In the latter year, figures averaged 1,734 units. This was the lowest figure since 2021. The peak number was recorded during the oil boom in 1981, at 5,624 units. North America is the region with the greatest number of oil and gas rigs, the vast majority of which are on land.
Are oil rig counts rising?
Overall, most regions demonstrate relatively flat trends, with no significant surges in rig counts, which could indicate cautious investment in exploration amid evolving global energy dynamics. Oil rig counts in the US and Canada, both of which serve as key indicators of expected oil production.
When will the International rig count be released?
Starting in February 2020, the international rig count will be released on the last working day of the first week of the month. The Baker Hughes Rig Counts are an important business barometer for the drilling industry and its suppliers. When drilling rigs are active they consume products and services produced by the oil service industry.
