Product
U.S. Rig Count Decreases by 1 and Canada Increases by 54
Written by John Packard
January 7, 2013
According to Baker Hughes data from January 4th, 2013, the U.S rig count for this week is 1,762 rigs exploring for or developing oil or natural gas. This number represents a decrease of 1 rig from last week. Compared to last year the 1,762 count is a decrease of 245 rigs. Canadian rigs increased by 54 to 258 rigs this week, a decrease of 103 rigs from a year ago. International rigs increased by 8 to 1,267 rigs last month, an increase of 82 rigs from a year ago.
About the Rotary Rig Count
A rotary rig is one that rotates the drill pipe from the surface to either drill a new well or sidetracking an existing one. They are drilled to explore for, develop and produce oil or natural gas. The Baker Hughes Rotary Rig count includes only those rigs that are significant consumers of oilfield services and supplies.
The Baker Hughes North American Rotary Rig Count is a weekly census of the number of drilling rigs actively exploring for or developing oil or natural gas in the United States and Canada. Rigs considered active must be on location and drilling. They are considered active from the time they break ground until the time they reach their target depth.
The Baker Hughes International Rotary Rig Count is a monthly census of active drilling rigs exploring for or developing oil or natural gas outside of the United States and Canada. International rigs considered active must be drilling at least 15 days during the month. The Baker Hughes International Rotary Rig Count does not include rigs drilling in Russia or onshore China.
John Packard
Read more from John PackardLatest in Product
Brazil pig iron market activity picks up
The pig iron market in Brazil saw some activity last week that could present some additional options to producers there, but at lower price levels.
Nucor targets ‘white hot’ data center boom
With infrastructure demand shifting toward digital capacity, Nucor Corp. is positioning itself as the go-to steel supplier for the data center boom.
Drilling activity slows at October’s end in US and Canada
The latest Baker Hughes rig count report showed oil and gas drilling slowing in both the US and Canada last week.
Key takeaways from CRU’s US Ferroalloys Connections Summit
CRU analysts break down their top takeaways from CRU's 31st Annual Ferroalloys Connections Summit, held Oct. 19-21 in Miami.
SMU Survey: Mills less negotiable on spot prices
Most steel buyers responding to our market survey this week reported that domestic mills are considerably less willing to talk price on sheet and plate products than they were in recent weeks.