The Strategist

Number of oil and gas rigs in the world fell for the first time in 5 months


10/08/2018 - 16:11



The number of operating oil and gas rigs in the world in September declined for the first time in five months, according to data from the American oilfield service company Baker Hughes.



John Hill
John Hill
On average, 2258 rigs were operating around the world in the last month, against 2278 rigs in August (a record since March 2015). At the same time, the September level was 177 higher than the figure for the same month in 2017.

Meanwhile, in the United States, the number of rig last month increased threefold compared with the previous month and reached 1,053. In Canada, their number decreased by 19 to 201 drilling rigs. Thus, North America currently accounts for 55.5% of drilling workers in the world, as against 55.3% a year earlier.

The number of rigs in Africa over the past month increased fivefold and reached 109 drilling rigs (maximum since April 2015), in Europe - by 1, to 86, and remained at 192 in Latin America. At the same time, in the Middle East their number decreased by 7 - to 395, in the Asia-Pacific region - by 3, reaching 222.

The average monthly number of operating oil and gas rigs in the world in 2017 increased for the first time in the last three years and amounted to 2029. From the beginning of the current year, this figure is 2160.

At the end of 2016, the minimum indicator for 17 years was recorded - 1,593 drilling rigs. In 2015, there were 2,337 rigs in the world, while in 2014, the maximum number of installations since 1985 was 3,578.

Baker Hughes has been publishing data on existing rigs since 1944. At first, the company collected information only in the USA and Canada, since 1975 - in the world as a whole.

source: reuters.com