Breaking another record, the Baker Hughes Rotary Rig Count showed an other increase of 11 new rigs exploring for oil and gas this week. Despite some concern about overproduction, the rig count continues its upward climb, with a total of 927 rigs in the U.S. The total North American count is now 1059.
Canada also increased its count by 33. A recent survey for the Canadian Association of Petroleum Producers (CAPP) found Canada is seen by people around the world as a preferred supplier in meeting growing global oil and gas needs, which may account for its significant jump this week.
More than 22,000 people in 32 countries were polled by Ipsos on behalf of CAPP, indicating that 31 percent saw Canada as a preferred source of oil and gas imports–topping a list of 11 producing countries.
Offshore, the Gulf of Mexico lost 2 rigs.
State and basin rig count breakdown
By state, Alaska was down two rigs after a couple of weeks of small steady gains. Colorado was down one, and Texas, surprisingly, was down three after several weeks of significant increases.
States gaining rigs included the following:
New Mexico +4
West Virginia +2
By basin, below is the breakout of gains and losses according to Baker Hughes’ report:
|Major Basin Variances||This Week||+/-|