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Oil & Gas Rig Counts Trend Upward – The Push And Pull Continues

© 2022 Baker Hughes Company www.bakerhughes.com

United States Of America – Oil Rigs and taps active and coming online are trending higher according to industry tracking reports by the company BAKER HUGHES. A sign future output will grow domestically but more work is needed as political struggles continue.

Since 1944, when Baker Hughes Company began weekly counts of drilling activity in the United States and Canada, Baker Hughes has issued rig counts as a service to the petroleum industry. In 1975, Baker Hughes established the monthly international rig count. The North American rig count is published weekly on the last day of the work week at noon Central Time. The international rig count is on the last working day of the first week of each month.

Domestic North America Oil Rig Counts

The April 8, 2022 Oil Rig Count Data shows The United States of America had a combined 689 rigs & taps. That is a combined addition of 388 rigs and taps since our May 29, 2020 benchmark of 301 for analyzing purposes.

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When reviewing data we found that the September 12, 2008 data showed the North American counts to be its highest level at a total combined count of 2,031 rigs and taps. Starting in 2016 we see a dramatic steady fast decline.

Correlation Of Oil Rig Counts And Fuel Costs

YEAR 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
RIG 1010 860 722 754 755 723 779 943 843 625 918 1156 830 1032 1192 1383 1649 1768 1879 1089 1546 1879 1919 1761 1862 978 509
Baker Hughes Yearly Average Rig Counts
Source Baker Hughes Company U.S. E.I.A.

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