Rig count rises in Asia Pacific

WORLDWIDE rig counts are up for both December and January compared with the same periods last year.
Rig count rises in Asia Pacific Rig count rises in Asia Pacific Rig count rises in Asia Pacific Rig count rises in Asia Pacific Rig count rises in Asia Pacific

Staff Reporter

That's the word from Baker Hughes, which regards the rig count as an important barometer and measure of the health and hopefulness of the industry.
 
"When drilling rigs are active they consume products and services produced by the oil service industry," the company said last week. 
 
"The active rig count acts as a leading indicator of demand for products used in drilling, completing, producing and processing hydrocarbons." 
 
The worldwide January rig count for last month was 2175, up 86 rigs from December and up by an impressive 257 over January 2017. 
 
Latin America, Africa, the Middle East and the Asia Pacific are all up overall year-on-year, some by only a margin of one in some cases. Europe is down by 14. 
 
The US has risen by over 200 and Canada a more modest 24. 
 
Increases from December last year to January this are common across most regions, with Canada seeing the largest increase. 
 

 

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