Steel Markets
U.S. Rig Count Down 118 and Canada Up 83 Rigs from Previous Year
Written by Brett Linton
September 3, 2013
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.
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. SMU recently published an article covering the importance of drilling rigs to the steel industry which can be seen here.
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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