Rig counts in North America have fallen again, dropping to 476 in the U.S. and to 69 in Canada, according to Baker Hughes Inc.’s (NYSE: BHI) March 18 report.
In the U.S., the overall rig count is down four rigs from the last week, but down 593 when compared with the 1,069 rigs that were operating around this time in 2015.
The U.S. oil rig count inched up this week by one to 387, compared with last year’s 438. The number of gas rigs dropped by five to 89 compared with last week, down 153 compared with 2015.
At 27, the U.S. offshore rig count was unchanged from last week, but down 10 rigs year over year, according to the report.
The Canadian rig count plummeted by 29 rigs since last week, landing at 69. Both oil and gas rigs show double-digit falls: oil rigs were down 16 to 12, while gas rigs fell by 13 to 57, the report said.
In 2015 about this time, Canada had 71 more rigs operating for a total of 140.
The next North American rig count will be published at noon CT March 24, due to the Good Friday holiday.
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