U.S. Rig Count Holds Steady

The Baker Hughes rig count dated Aug. 28 shows no change in the total U.S. count of 254 rigs. Oil rigs were down by three to 180, while gas rigs were up three to 72, and miscellaneous rigs were unchanged at two.

The rig count is down 650 rigs from last year’s count of 904, with oil rigs off by 562 units, gas rigs down 90, and miscellaneous rigs unchanged at two.
Canada’s rig count decreased by two rigs from the week prior to 54, with oil rigs down one to 19, gas rigs down one to 35, and the miscellaneous rigs were unchanged at zero.

Compared to 2019, the Canada rig count is down by 96 rigs from last year’s count of 150, with oil rigs down 86, gas rigs down 10, and miscellaneous rigs unchanged at zero.

The U.S. Offshore Rig Count is unchanged at 13 and down 13 year-over-year.

For additional information go to the Baker Hughes website at http://bakerhughes.com/rig-count.

SOURCE: The Weekly Propane Newsletter, September 3, 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.