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

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.

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