Egypt’s Oil Rig Count
September 2021
Being a primary source of information, The Baker Hughes Rig Counts are a crucial indicator for the oil & gas/drilling industry and all its stakeholders. The active rig count is updated each month as it is a prime indicator for the demanded products needed for drilling & producing hydrocarbons. 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 (26.00 Sep 2021)
As shown in the graph aside, Egypt’s oil rig count for the month of September stands at 26.00 which has only slightly increased by 4% since last month. However, this is an increase of 44.44% from September last year that stood at a count of 18.00 oil rigs.
Offshore oil rig count graph (3.00 Sep 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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