The Baker Hughes rig count for the week ending 28 Feb reported that the US is down two rigs from last week to 1769.
Both of the rigs were drilling offshore, bringing the total to 55—and a year over year increase of three. Land-based rigs, rigs drilling in inland waters, and miscellaneous rigs remained unchanged at 1696, 18, and four respectively.
According to the firm, oil rigs saw an increase of five totaling 1430, while gas rigs decreased by seven, totaling 335.
Despite the drop, the US rig count is still up 12 rigs from last year’s 1757; oil rigs have increased by 97; gas rigs are down by 85; the number of miscellaneous rigs is the same.
Canada’s rig count is down six from last week, totaling 626. The country gained one additional oil rig, and lost seven.
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