Matt Zborowski
Assistant Editor
The number of active rigs drilling worldwide climbed by 69 month-over-month in July to average 2,041, according to Baker Hughes data. The count was up 629 year-over-year.
Canada provided most of the monthly rise, gaining 48 rigs in July compared with its June average to tally 198, an increase of 104 year-over-year. It marked the second straight month in which Canada led global gains, reflecting a better-than-expected seasonal ramp up in drilling.
The US rig count was up by just 22 month-over-month in July to 953, an increase of 504 year-over-year. As of the week ended Aug. 4, the US count had fallen in 3 the previous 6 weeks.
Latin America increased 4 units month-over-month in July to reach 196, up 10 year-over-year. Argentina jumped 5 units to 65, down 7 year-over-year. Colombia climbed 3 units to 23, up 17 year-over-year. Venezuela edged up a unit to 50, even with its year-ago average. Mexico, meanwhile, dropped 3 units during the month to 21, down 2 year-over-year. Brazil declined a unit to 16, up 1 year-over-year.
Africa rose 3 units month-over-month in July to 89, up 7 year-over-year. Algeria edged up a unit to 58, an increase of 3 year-over-year. Nigeria also gained a unit and averaged 9, up 4 year-over-year.
The Asia-Pacific region edged up a unit month-over-month in July to 196, an increase of 9 year-over-year. Offshore China jumped 4 units to 24, down 4 year-over-year. India dropped 2 units to 108, down 5 year-over-year.
The Middle East sat unchanged during July at 397, still up 7 year-over-year. Saudi Arabia's count averaged 119 for a fifth consecutive month. Iraq gained 2 units to 53, up 14 year-over-year. UAE-Abu Dhabi also rose 2 units and averaged 51, up 3 year-over-year. Egypt fell 4 units to 23, down 4 year-over-year.
Europe dived 9 units month-over-month in July to 82, down 12 year-over-year. Serbia and Montenegro lost all 3 of its active rigs. Norway dropped 2 units to 13, down 7 year-over-year. Italy declined 2 units to 2, half its year-ago average. Offshore UK gained 2 units to 10, even with its year-ago average.
