It was another tough week for rig counts in North America. In the U.S., the total number of rigs dropped by 27 the week of Feb. 15, down to 514 rigs, according to data provided by Baker Hughes. Oil rigs fell by 26 to 413, and gas rigs lost one, falling to 101.
Including gas rigs, the numbers represent the lowest point since 1999. The total count is rapidly approaching that year’s low of 488 rigs, which was the lowest point in Baker Hughes’ recorded history. Another drop of 26 rigs would tie the all-time record low, according to the company.
U.S. rig count is down 796 rigs from last year at 1,310, with oil rigs down 606, gas rigs down 188, and miscellaneous rigs down 2.
There were no offshore rigs lost this week. The number of U.S. offshore rigs stayed at 25, however offshore rig count is still down 29 year-over-year.
Canada didn’t fare any better—it’s rig count is down 16 from the week of Feb. 12 to 206, with oil rigs down 9 to 109, and gas rigs down 7 to 97.
Canadian rig count is down 154 from last year at 360, with oil rigs down 75, and gas rigs down 79.
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