A Review of the Nigerian Energy Industry

North America rig count drops in May

06 June 2015, News Wires – Drilling operations continued to plunge worldwide in May, with the North American market once again seeing the largest drop in rig activity, according to monthly data from Baker Hughes.

drilling rigThe total rig global count for last month was 2127, well down on the 2268 recorded in April and significantly down on the 3371 seen in May 2014.

The US average slipped from 976 units in April to 889 last month, a far cry from the 1859 recorded a year ago.

In Canada, May saw 80 units operating, down from 90 in April and 162 in May 2014.

The international rig count slipped from 1202 in April to 1158 in May – for May last year it was at 1350.

The offshore rig count was at 284, down from 300 in April and 326 a year ago.

The Latin American market, however, continued to perform relatively strongly, the rig count inching up from 325 in April to 327 in the latest report. This was still, however, down from 404 a year earlier.

Asia-Pacific dropped from 228 in April to 217 in May, also down on the 243 seen last year.

– Upstream

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