Rig Counts Post An Increase

Baker Hughes Rig Count for the week ended Aug. 21 shows the U.S. increased by 10 to reach 254 rigs. Oil rigs were up 11 to 183, and gas rigs down one to 69, while miscellaneous rigs unchanged at a total of two.

Looking at year-over-year, the U.S. rig count is down 662 rigs from last year’s count of 916, with oil rigs 571 units lower, gas rigs off by 93, and miscellaneous rigs unchanged at two. The offshore rig count is unchanged at 13, and down by 15 year-over-year.

The Canada Rig Count is up two rigs from last week to 56, with oil rigs adding one to a total of 20, gas rigs up one to 36, and miscellaneous rigs unchanged at 0. Compared to last year, Canada is down by 83 rigs from last year’s count of 139, with oil rigs off 75, gas rigs down eight, and miscellaneous rigs unchanged at 0.
Additional information on the Baker Hughes Rig Count is available on the company’s rig count website at http://bakerhughes.com/rig-count.

SOURCE: The Weekly Propane Newsletter, August 27, 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.