US, Canada rigs working, utilization rate continue to surpass 2003 numbers

Nov. 12, 2004
A total of 1,259 rigs were working in the US this week—down 9 from last week but up by 148 over the number making hole the same week in 2003, reported Baker Hughes Inc.

By OGJ editors

HOUSTON, Nov. 12 -- A total of 1,259 rigs were working in the US this week—down 9 from last week but up by 148 over the number making hole the same week in 2003, reported Baker Hughes Inc. Offshore activity gained 2 rigs, to 98 working; all except 5 are in the Gulf of Mexico. Texas gained 15 rigs this week, while Oklahoma idled 10, Wyoming idled 9, and Louisiana 6.

Canada's rig count rose by 16 to 448 units working this week—an increase of 173 over the same week in 2003.

The rig fleet utilization in the Gulf of Mexico is 78.6%, up from 73.9% a year ago, and the worldwide utilization rate is 85.6%, up from 80.2% last year and 74.6% a year ago, according to ODS Petrodata.