Rig Count Holds Steady

On its July 31 recap, the Baker Hughes rig count was unchanged from the prior week’s count of 251 rigs. During the week, oil rigs were down one to 180 units, gas rigs added one to 69, and miscellaneous rigs were unchanged at two.

Compared to last year, the U.S. Rig Count is down 691 rigs from 942, with oil rigs down 590, gas rigs 102 less, and miscellaneous rigs up one to total two rigs.
The U.S. Offshore Rig Count is unchanged at 12 and down 10 year-over-year.

The Canada rig count is up three rigs from last week to 45. Oil rigs are up one to a total of 11, gas rigs up one to 33, and miscellaneous rigs up one to one rig.
The Canada Rig Count is down 92 rigs from last year’s 137 rigs. Oil rigs are down 80 units and gas rigs off by 13, while miscellaneous rigs are up one.
Additional information on the Baker Hughes Rig Count is available on the firm’s rig count website at http://bakerhughes.com/rig-count.

SOURCE: The Weekly Propane Newsletter, August 6, 2020. Weekly Propane Newsletter subscribers receive all the latest posted and spot prices from major terminals and refineries around the U.S. delivered to inboxes every week. Receive a center spread of posted prices with hundreds of postings updated each week, along with market analysis, insightful commentary, and much more not found elsewhere.