The World Is Drilling Less

The global oil patch has put fewer rigs on location in August 2013, than it did around the same time last year. This is official.

Worldwide rig count for August 2013 was 3,416, up 54 from the 3,362 counted in July 2013, and down 113 from the 3,471 counted in August 2012, according to Baker Hughes, the company whose data on such things are considered the industry reference. The company, however warns that the Middle East rig count, in its statistics, excludes rigs in Syria for June July and August 2013.

Africa’s rig count has been higher, at 125 in August 2013, compared with 111 rigs active during the corresponding period last year, but the continent’s drilling activity declined from 128 in July 2013 to 125 in August 2013.

Africa, however contributes a minuscule percentage and its 14 rig jump from August 2012 to August 2013 is not enough to compensate for the global slump.

International rig count for August 2013, with the exception of United States and Canada, was 1,267, down 38 from the 1,305 counted in July 2013, and up by just 6 from the 1,261 counted in August 2012. The international offshore rig count for August 2013 was 309, down 11 from the 320 counted in July 2013, and up by 9 rigs from the 300 counted in August 2012.

The total U.S. rig count for August 2013 was 1,781, up 15 from the 1,766 counted in July 2013, and down 174 from the 1,894 counted in August 2012. The total Canadian rig count for August 2013 was 368, up 77 from the 291 counted in August 2013, and up 52 from the 316 counted in August 2012.