Steel Products
U.S. Rig Count Decreases by 12 and Canada Increases by 70
Written by Brett Linton
January 21, 2013
According to Baker Hughes data from January 18th, 2013, the U.S rig count for this week is 1,749 rigs exploring for or developing oil or natural gas. This number represents a decrease of 12 rigs from last week. Compared to last year the 1,749 count is a decrease of 259 rigs. Canadian rigs increased by 70 to 601 rigs this week, a decrease of 53 rigs from a year ago. International rigs decreased by 14 to 1,253 rigs last month, an increase of 73 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.
Brett Linton
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Final Thoughts
The difference: The spat with Turkey was a big deal for steel. This time, the 50% reciprocal tariff for Brazil – if it goes into effect as threatened on Aug.1 – hits everything from coffee and to pig iron. It seems almost custom-built to inflict as much pain as possible on Brazil.