BHI: Global rig count added 94 units in December

The average global rig count gained 94 units month-over-month in December to total 1,772, with only modest movement outside the resurgent US and Canada, Baker Hughes Inc. reported (OGJ Online, Dec. 7, 2016). The count was down 197 units compared with the December 2015 total.

The average US count jumped 54 units during the month to 634, down 80 year-over-year. On a weekly basis, the count ended 2016 at 658, down just 6 units compared with the total at the start of the year (OGJ Online, Jan. 6, 2016). It bottomed at 404 during the weeks of May 20-27.

The average Canadian rig count for December rose 36 units to 209, up 49 year-over-year. On a weekly basis, it bottomed at 36 on May 6.

Outside of North America, the Asia-Pacific region posted the next-highest increase in December, gaining 4 units to 192, down 6 from its December 2015 average. Australia led the way with a 5-unit jump to 9, down 7 year-over-year. Indonesia was up 2 units to 16, down 9 year-over-year. Thailand also gained 2, averaging 12, down 3 year-over-year. Offshore China lost 3 units during the month to 25, even with its year-ago average.

Latin America increased 3 units during the month to 184, down 86 year-over-year. Colombia rose 3 units to 19, up 7 year-over-year. Brazil increased 3 units to 13, down 25 year-over-year. Chile’s count doubled to 4, up 3 year-over-year. Argentina dived 11 units to 59, down 32 compared with its year-ago average.

Europe added 2 units during the month to reach 99, down 15 year-over-year. Notable increases there included 1-unit rises in Norway to 16, which was down 1 year-over-year; and offshore UK to 11, which was up 2 year-over-year.

Africa edged down a unit in December to 78, down 13 year-over-year. Congo (Brazzaville) lost all 3 of its active rigs. Algeria, Angola, and Nigeria each dropped a unit to 52, 4, and 4, respectively. While Nigeria was up 3 units year-over-year, Angola was down 7 and Nigeria was down by half.

The Middle East fell 4 units during the month to 376, down 46 compared with the region’s December 2015 average. Kuwait decreased 3 units to 44, up 1 year-over-year. Saudi Arabia dropped 2 units to 125, down 4 year-over-year. Oman fell 2 units to 59, down 14 year-over-year. Egypt, meanwhile, gained 2 units to 24, down 20 year-over-year.

Contact Matt Zborowski at matthewz@ogjonline.com.

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