The U.S. pure fuel rig depend fell three items to 162 for the week ended Aug. 23, in line with Baker Hughes, a GE Firm (BHGE), whereas a steep drop within the oil patch added to a day of unfavorable headlines for crude producers.
The identical day that an escalation in U.S.-China commerce tensions despatched crude costs tumbling, BHGE’s newest U.S. rig depend fell 19 rigs to finish at 916, together with the departure of 16 oil-directed rigs. The home drilling tally ended the week 128 items behind the year-ago depend of 1,044, BHGE information present.
The week’s losses occurred on land, the place 20 items packed up store, offset partially by the addition of 1 rig within the Gulf of Mexico. One directional rig was added throughout the week, whereas 18 horizontal rigs and two vertical rigs exited the patch.
The Canadian rig depend fell three items week/week to 139, with the lack of six oil-directed rigs offsetting the addition of three gas-directed. The general Canadian depend ended the week 90 items behind the 229 rigs working a 12 months in the past.
The mixed North American rig depend fell 22…