A 24-rig jump in the Asia-Pacific region during October offset a 24-unit drop in the US and Canada, with losses in the Middle East outweighing gains in Africa, according to Baker Hughes global rig count data.
The overall global count for October fell by 4 units month-over-month to average 2,077 rigs, up 457 from the October 2016 total. The US rig count continued its slide that began in late summer, dropping 18 units to 922, up 378 year-over-year. Canada’s tally decreased 6 units to 204, up 48 year-over-year.
The Asia-Pacific region’s October count of 213 was up 31 units year-over-year. India rose 9 units to 114, up 2 year-over-year. Offshore China also gained 9 units to average 34, up 6 year-over-year. Indonesia increased 2 units to 28, up 11 year-over-year.
The Middle East declined 10 units month-over-month in October to 385, down 6 rigs year-over-year. Pakistan fell 6 units to 20, down 1 rig year-over-year. Kuwait dropped 4 units to 49, up 1 year-over-year. Iraq decreased 3 units to 52, up 10 year-over-year. Qatar lost 2 units to 8, down 4 year-over-year.
Abu Dhabi gained 2 units to 52, also up 2 year-over-year. Saudi Arabia increased 4 units to 121, down 5 year-over-year.
Africa rose 6 units month-over-month in October to 85, up 8 year-over-year. Algeria jumped 5 units to 55, up 2 year-over-year.
Latin America’s October count of 177 was even with its September count but down 6 year-over-year. Venezuela dropped 5 units to 39, down 9 year-over-year. Mexico decreased 3 units to 12, down 9 year-over-year. Trinidad and Tobago fell 2 units to 5, up 2 year-over-year.
Brazil gained 2 units to 15, up 1 year-over-year. Bolivia increased 3 units to 4, down 1 year-over-year. Argentina also rose 3 units to average 70, up 1 year-over-year.
Europe’s October count of 91 was even with its September and August counts and up 4 year-over-year. Norway gained 5 units to 16, up 7 year-over-year. Turkey rose 2 to 23, down 8 year-over-year.
Offshore UK lost 4 units to 6, down 1 year-over-year. Germany halved to 2, equal to its year-ago count. Denmark relinquished its only 2 active units.
Contact Matt Zborowski at [email protected].