The global rig count in June climbed by 106 to average 2,041, an increase of 634 units year-over-year, according to data from Baker Hughes, a GE company. The US and Canada together added 103 units during the month.
Canada’s seasonal rebound ramped up with a 65-unit month-over-month gain in June to 150, a year-over-year increase of 87 (OGJ Online, June 7, 2017). The US rose 38 units to 931, up 514 from its average in June 2016, a month that marked the acceleration of a drilling rebound that’s still ongoing (OGJ Online, June 7, 2017).
Outside of North America, the Middle East recorded the biggest monthly gain, rising 6 units to 397, a year-over-year increase of 8. Egypt jumped 4 units to 27, up 1 year-over-year. Kuwait rose 1 unit to 56, up 12 year-over-year. UAE-Abu Dhabi also added a unit and averaged 49. Saudi Arabia averaged 119 rigs working for a fourth straight month. BHGE data does not include Iran.
Africa rose 2 units in June to 86, down 1 year-over-year. Algeria gained 4 units to 57, also up 4 year-over-year. Nigeria and Libya were static at 8 and 1, respectively.
Latin America during the month also gained 2 units, averaging 192, up 14 year-over-year. Argentina jumped 7 units to 60, down 3 year-over-year. Mexico rose a unit to 24, up 4 year-over-year. Brazil also was up a unit and averaged 17, an increase of 3 year-over-year. Venezuela fell 5 units to 49, down 4 year-over-year.
Asia Pacific declined 3 units in June to 194, up 12 year-over-year. India dropped 6 units to 110, up 2 year-over-year. Australia lost 2 units to 12, up 9 year-over-year. Malaysia doubled its count during the month to 6, up 1 year-over-year.
Europe during the month fell 4 units to 91, even with its year-ago average. Norway decreased 3 units to 15, down 1 year-over-year. Turkey dropped 2 units to 21, down 8 year-over-year. Offshore UK lost 2 units to 8, down 1 year-over-year. Onshore UK picked up its first active rig in a year.
Contact Matt Zborowski at [email protected].
