Baker Hughes (stock ticker: BHGE) released its monthly international rig count today, revealing an increase of 64 compared to April, bringing the total number of rigs to 1,126. The number of offshore rigs, however, fell 11 compared to last month, totaling 240.
All regions experienced a net decrease in rigs compared to last month except for Europe, which increased 88 rigs. This is primarily due to the fact that as of today, Ukrainian rigs will now be included in Baker Hughes monthly count.
Ukraine represented 84 of the 186 active drilling rigs in Europe this month—45%. This addition is not reflected in historical data.
Compared to this time last year, the total rig count is up 159 from the 967 rigs active in May of 2018.
May 2019 | April 2019 | May 2018 | ||||||||||||||||||||
Land | Offshore | Total | Month Variance |
Land | Offshore | Total | Land | Offshore | Total | |||||||||||||
Latin America | 149 | 30 | 179 | -11 | 158 | 32 | 190 | 150 | 24 | 174 | ||||||||||||
Europe | 142 | 44 | 186 | 88 | 57 | 41 | 98 | 52 | 28 | 80 | ||||||||||||
Africa | 101 | 22 | 123 | -3 | 103 | 23 | 126 | 77 | 17 | 94 | ||||||||||||
Middle East | 356 | 54 | 410 | -2 | 356 | 56 | 412 | 353 | 48 | 401 | ||||||||||||
Asia Pacific | 138 | 90 | 228 | -8 | 137 | 99 | 236 | 137 | 81 | 218 | ||||||||||||
International | 886 | 240 | 1,126 | 64 | 811 | 251 | 1,062 | 769 | 198 | 967 |