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Thursday, September 20, 2018
HomeNewsEconomyBaker Hughes North American Rig Count Down 8 for Week Ending October 6

Baker Hughes North American Rig Count Down 8 for Week Ending October 6

An offshore oil platform is seen in Huntington Beach, California September 28, 2014. (Photo: Reuters)
An offshore oil platform is seen in Huntington Beach, California September 28, 2014. (Photo: Reuters)

An offshore oil platform is seen in Huntington Beach, California September 28, 2014. (Photo: Reuters)

The Baker Hughes North American Rig Count is down 8 to 1,145 for the week ending October 6, as the U.S. and Canada both declined by 4. Overall, the North American Rig Count is up 456 on the year, still far more than the 684 rigs in commission at this time last year.

The U.S. rig count was down 4 rigs to 936 and up 412 rigs from last year. The Canadian count is down 4 rigs to 209 and up 44 rigs from last year.

For the U.S., rigs classified as drilling for oil are up 2 to 748, while rigs classified as gas are down 2 at 187. For Canada, oil rigs are down 1 to 112 and gas rigs are down 3 to 97.

Worth noting, the rig count in states impacted by Hurricane Harvey decreased, contrary to forecasts. Texas rigs were down 3 to 448 and Louisiana rigs were down 1 to 66. The Gulf of Mexico, which is not included in the North American Rig Count, was flat at 22.

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Richard D. Baris is the Director of the PPD Election Projection Model and of the Big Data Poll, both of which conducted the most accurate statewide forecasting in 2016. He is also the author of the must-read book on American political philosophy, Our Virtuous Republic: The Forgotten Clause in the American Social Contract.

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