Egypt’s Oil Rig Count
November 2021
The Baker Hughes Rig Count is a main indicator for the oil & gas/drilling industry and all its stakeholders. As a prime indicator for the demanded products needed for drilling & producing hydrocarbons, the active rig count is updated each month. Due to the significant connection between the number of rigs and the oil prices (as the oil prices increase, the rig count increases) it is important to be up to date with all the new developments. However, it takes some time to see that correlation since producers wait to assess the market and ensure that prices will hold before they drill more rigs and vice versa.
Oil rig count graph (28.00 Nov 2021)
As shown in the graph above, Egypt’s oil rig count for the month of November stands at 28.00 which is an increase of 7.69% from last month. However, this is an increase of 75.00% from one year ago that stood at a count of 16.00 oil rigs.
Offshore oil rig count graph (6.00 Nov 2021)
On the other hand, as shown in the graph below, the offshore rig count for the month of November stands at 6.00 which is an increase from last month that stood at 4.00 oil rigs. Moreover, compared to last year, the number has also increased as it stood at 3.00 oil rigs in November 2020.
Worldwide Rig Count
The international rig count is more recent as The North American rig count is released weekly by Baker Hughes. As shown in the chart above, the rig count in the USA is at 542 which is an increase of 255 rigs compared to last year. In addition, The count in Canada is at 164 rigs with an increase of 81 new rigs compared to last year.
As for the worldwide rig count in 2021, the above chart clearly shows September’s rig count per region. With the highest oil rig count and thus the biggest percentage of the pie is the USA at 35.1%. Next, Canada comes in with 10.6% followed closely by Latin America with 9.7%. In fourth place is Europe and Africa with 7.3% and 5.4% respectively. Finally, The Middle East comes in with a contribution of 18.6% and Asia Pacific at 13.4%. For this month, the total worldwide oil rig count is at 1,448 rigs which is an increase from last month’s rig count of 1,434.
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