• Skip to main content

    Analysis

    September 3, 2013

    U.S. Rig Count Down 118 and Canada Up 83 Rigs from Previous Year

    Written by Brett Linton

    According to Baker Hughes data from August 30th, 2013, the U.S rig count for this week is 1,776 rigs exploring for or developing oil or natural gas. This number is unchanged when compared to last week, with oil rigs up 6 to 1,388 rigs, gas rigs down 7 to 380 rigs, and miscellaneous rigs up 1 to 8 rigs. Compared to last year the 1,776 count is a decrease of 118 rigs, with oil rigs down by 31, gas rigs down by 93, and miscellaneous rigs up by 6.

    The Canadian rig count increased by 16 to 399 rigs this week, with oil rigs up 10 to 256 rigs, and gas rigs up 5 to 143 rigs. Compared to last year the 399 count is an increase of 83 rigs, with oil rigs up by 19 and gas rigs up by 64. International rigs decreased by 28 to 1,305 rigs for the month of July, an increase of 41 rigs from the same month one year ago.

    Brett Linton

    Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.

    Read more from Brett Linton

    Latest in Analysis

    Brazilian pig iron trade with US stuck in doldrums

    The pig iron trade from Brazil into the US has been lackluster over the last month with minimal activity. Many players in the trade thought activity would increase after the International Iron Metallics Assn (IIMA) meeting in Chicago earlier this month, but it has not materialized so far. Part of the reason could be the US scrap buy for October stretched out longer than usual, as buyers and sellers haggled over price. Now that prices settled upward, there may be different ideas on where pig iron prices should settle.

    SMU Survey: Current Steel Buyers’ Sentiment Index up, Future Sentiment flat

    SMU’s Current Steel Buyers’ Sentiment Index ticked up this week, while Future Sentiment remained flat again, according to our latest market survey.  Every two weeks, SMU polls thousands of steel-industry executives, asking them to rate their companies’ chances of success today and also three to six months down the road. We use their responses to calculate our proprietary Current and Future Steel Buyers’ Sentiment Indices, measures tracked since 2008.

    Fed Beige Book finds stronger steel, machinery demand but rising cost pressure

    Manufacturing activity improved in several Federal Reserve districts, but conditions remained mixed nationwide, according to the Fed’s Oct. 14 Beige Book report. Demand was strongest in steel, machinery, defense-related products, and data center infrastructure. Steel producers in the Cleveland District reported firm spot market demand. Data center, power-generation, defense, and aerospace projects supported orders. Long mill lead times kept customer inventories lean and prices high. Producers also reported higher orders from truck-trailer and light-vehicle manufacturers. International demand for hydrogen vehicle parts increased.

    Final Thoughts: Sheet prices and lead times are climbing, so are inventories and imports

    On the face of it, nothing much changed in the US steel market this week. Lead times continue to extend. Inventories remain lean. And mills can pretty much name their price. Sheet lead times, which extend well into December, remain at the highest levels we’ve seen since 2021. Plate lead times, meanwhile, set a new record. At 11 weeks on average, they’re higher than anything we’ve recorded – including during the boom year of ’21.