Baker Hughes says U.S. operators added oil and gas rigs for second consecutive week

Kurt Abraham, Editor-in-Chief, World Oil November 24, 2023

(WO) - Across the U.S., operators added four rigs in the five-day period from Nov. 18 to Nov. 22, according to the Baker Hughes Rotary Rig Count. It was the second week in a row that the total U.S. count increased, with the new total standing at 622. Baker Hughes issued the report on Wednesday, rather than Friday, due to the Thanksgiving holiday in the U.S.

Despite the latest increase, Baker Hughes said the total count was still 162 units, or 21%, below this time last year. For the month, the total rig count average declined by three, meaning that the average number of units working has fallen for six out of the last seven months.

U.S. oil rigs remained unchanged at 500, while gas rigs rose by three to 117. The oil rig count average decreased by four in November after gaining two units in October. That marks the 11th time that the oil rig count average has fallen in the last 12 months. The gas rig count average held steady in November after gaining one unit in October, as well as one unit in September.

Directional rigs in the U.S. were up a noticeable 5.5%, gaining three units to total 55. Horizontal rigs were up one unit, at 554. Vertically targed rigs remained unchanged at 13. Louisiana gained the most rigs, picking up two units for a total of 41. One-rig pickups were registered in Alaska, Oklahoma, Pennsylvania and Texas. One-rig declines occurred in Colorado and New Mexico.

In Canada, the rig count gained one unit, to total 197. This compares to 194 active rigs a year ago. Oil rigs were up one, at 124. Gas-directed rigs remained steady at 73. This compares to 129 oil-targeted rigs and 65 gas-directed rigs a year ago.

The next update on international rigs outside the U.S. and Canada is not due until next month.

Connect with World Oil
Connect with World Oil, the upstream industry's most trusted source of forecast data, industry trends, and insights into operational and technological advances.