U.S., Canadian rig counts drop

Petroleum News Alaska Staff

Baker Hughes reported March 8 that U.S. and Canadian rig counts were both down for the week. The U.S. active rig count is 769, down 13 from the previous week and down 389 from a year ago. The Canadian rig count, at 339, is down 22 from last week and down 195 from a year ago.

Including 110 rigs in the Gulf of Mexico, 1,108 rigs were working in North America March 8, down 35 from the previous week and down 584 from a year ago.

Alaska had 15 rigs active March 8, the same as the previous week, but up one from a year ago. Thirteen of the Alaska rigs are working onshore and two offshore (Cook Inlet). In the last week of February, there were three rigs working offshore (Cook Inlet) and 12 land rigs working in the state.

Baker Hughes has issued rotary rig counts since 1944 U.S. active rigs peaked at 4,530 in December 1981. The lowest U.S. rig count, 488, was in April 1999. Canadian rig activity peaked at 558 in January 2000. The lowest Canadian rig count was 29 in April 1992.