February 2020 Rig Counts from Baker Hughes

Source: press release, 6 March 2020

International rig counts from Baker Hughes
Baker Hughes has issued rig counts as a service to the petroleum industry since 1944, when Hughes Tool Company began weekly counts of the US and Canadian drilling activity (photo: Baker Hughes)

Baker Hughes has announced that the Baker Hughes international rig count for February 2020 was 1,085, up 7 from the 1,078 counted in January 2020, and up 58 from the 1,027 counted in February 2019. The international offshore rig count for February 2020 was 245, unchanged from the 245 counted in January 2020, and down 5 from the 250 counted in February 2019.

The average US rig count for February 2020 was 791, unchanged from the 791 counted in January 2020, and down 258 from the 1,049 counted in February 2019. The average Canadian rig count for February 2020 was 249, up 45 from the 204 counted in January 2020, and up 19 from the 230 counted in February 2019.

The worldwide rig count for February 2020 was 2,125, up 52 from the 2,073 counted in January 2020, and down 181 from the 2,306 counted in February 2019.

The Baker Hughes rig counts comprise the total number of drilling rigs actively exploring for or developing oil or natural gas in the US, Canada and international markets. The company has issued the rig counts as a service to the petroleum industry since 1944, when Hughes Tool Company began weekly counts of the US and Canadian drilling activity. The monthly international rig count was initiated in 1975.

Additional detailed information on the Baker Hughes rig counts is available here.