Rig Count Overview

According to the latest Baker Hughes Rig Count, the global oil and gas drilling landscape remains dynamic, reflecting shifting capital flows and regional investment priorities.

• United States: 547 rigs (-2 week / -39 year)

• Canada: 193 rigs (+3 week / -26 year)

• International: 1,084 rigs (+8 month / -72 year)

  
  

While overall global activity is steady, the mix between regions tells a nuanced story about where operators are focusing their efforts amid evolving market conditions.

U.S. Rig Count: Consolidation Amid Efficiency Gains

The slight decline in U.S. rigs signals ongoing capital discipline among shale operators. Companies continue to prioritize free cash flow and operational efficiency over aggressive drilling programs.Despite fewer active rigs, productivity per well remains strong, driven by technology adoption, longer laterals, and precision completions. This trend supports stable output levels even as rig counts fluctuate.

Canada Rig Count : Modest Uptick as Seasonal Drilling Returns

Canada’s modest week-on-week increase reflects seasonal recovery and renewed activity in key basins such as the Montney and Duvernay.Producers are preparing for winter drilling programs, supported by firm natural gas prices and continued demand for LNG export supply commitments.

International Rig Count : Momentum Builds in the Middle East and Africa

The international rig count continues to rise, with notable growth in the Middle East, Latin America, and West Africa. These regions benefit from long-term investment cycles and national oil company (NOC) development strategies focused on resource expansion and energy security.

Rising offshore activity — from deepwater West Africa to the Eastern Mediterranean — highlights ongoing confidence in frontier exploration and development despite global price volatility.

Strategic Insight: A Balanced Global Outlook

The current rig trends underline a balanced upstream environment — mature basins focusing on efficiency, and emerging regions expanding through new discoveries and large-scale projects.This equilibrium supports both short-term production stability and long-term supply diversification as the energy transition reshapes capital priorities.

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📊 Source: Baker Hughes Rig Count