After three flat weeks, the number of offshore rigs in the U.S. increased by one unit last week, according to weekly rig count reports by Baker Hughes.
Baker Hughes Rig Count: U.S. +5 to 397 rigs U.S. Rig Count is up 5 from last week to 397 with oil rigs up 7 to 306, gas rigs down 2 to 90, and miscellaneous rigs unchanged at 1.
U.S. Rig Count is down 393 rigs from last year’s count of 790, with oil rigs down 372, gas rigs down 20 and miscellaneous rigs down 1.
The U.S. Offshore Rig Count is up 1 to 17, down 6 year-over-year.
Baker Hughes Rig Count: Canada +5 rigs to 176 rigs. Canada Rig Count is up 5 from last week to 176, with oil rigs up 6 to 101, gas rigs down 1 to 75.
Canada Rig Count is down 79 rigs from last year’s count of 255, with oil rigs down 71, gas rigs down 8.