North American Rig Count Hits 770 After Eight Consecutive Weeks of Growth
According to Rigzone, Baker Hughes’ latest North America rotary rig count, published June 26, shows the region added 21 rigs week on week, bringing the total North American rig count to 770 and extending a winning streak to eight consecutive weeks of growth.
Market Snapshot
The total North American count of 770 rigs breaks down to 573 in the US and 197 in Canada. The US added 10 rigs on the week while Canada added 11. Within the US count, land rigs account for 561 of the 573 active units, with 10 offshore and two inland water rigs making up the balance. By commodity, 440 US rigs are drilling for oil and 125 are targeting gas.
At the state level, Texas led gains with seven rigs added week on week, followed by Oklahoma with two and Utah and Wyoming with one each. Louisiana dropped two rigs. In the Permian Basin, two rigs were added on the week. Year on year, North America is running 83 rigs above where it was a year ago, with the US up 26 rigs and Canada up 57.
What It Means for Subcontractors
- Demand is real and sustained. Eight straight weeks of growth is not a blip. Drilling services companies, casing crews, fluid haulers, and wellsite contractors should expect continued call-outs, particularly in Texas and the Permian.
- Canada is outpacing the US on year-over-year growth. Canada has added 57 rigs year on year versus 26 for the US, meaning Alberta and Saskatchewan-based subcontractors may be seeing some of the strongest utilization gains on the continent.
- Gas-directed work is picking up. The US added 16 gas rigs year on year, which signals growing opportunity for subcontractors serving gas-focused operators, not just oil plays.
- Price your work accordingly. With 770 rigs running and a multi-week upward trend, labor and equipment are tightening. Subcontractors who locked in low rates earlier in the year should watch renewal windows carefully.
