The number of active international rigs increased to 955 in May
The international rig count reached 955 in May, up nine from April, according to information from Baker Hughes Industries (ticker: BHI), which releases information on active international rigs once a month in addition to its weekly North American updates. Including rigs drilling in the U.S. and Canada, the total global rig count fell 19 in May to 1,405.
The Asia Pacific region saw the largest increase of all the areas tracked by BHI. Asia Pacific reported 190 rigs in May compared to 179 in April. Other nations that saw more active rigs included Europe, which added five for a total of 95, Africa, which added one to its count and reached 91 rigs, and the Middle East, which reported 391 active rigs in May, up seven from April.
Latin America, the only other region covered in the international rig count, reported 15 fewer rigs last month, finishing May with 188 active rigs.
Despite the small gain month-over-month, the international rig count remains well below its year-ago level as oil prices hold near $50 per barrel. In May 2015, the international rig count was 1,158, 203 rigs higher than reported this year.
While the total U.S. rig count increased last week, the average reported for the month of May showed a 19-rig decrease. Canada’s weekly average was 42 active rigs, up one from April.
