Steel Products Prices North America
U.S. Rig Count Down 98 While Canada Up 25
Written by Brett Linton
September 22, 2013
According to Baker Hughes data from September 20th, 2013, the U.S rig count for this week is 1,761 rigs exploring for or developing oil or natural gas. This count is a decrease of 7 rigs when compared to last week, with oil rigs up 8 to 1,369 rigs, gas rigs down 15 to 386 rigs, and miscellaneous rigs unchanged at 6 rigs. Compared to last year the 1,761 count is a decrease of 98 rigs, with oil rigs down by 33, gas rigs down by 68, and miscellaneous rigs up by 3.
The Canadian rig count increased by 8 to 388 rigs this week, with oil rigs up 5 to 243 rigs, and gas rigs up 3 to 145 rigs. Compared to last year the 388 count is an increase of 25 rigs, with oil rigs down by 27 and gas rigs up by 52. International rigs decreased by 38 to 1,267 rigs for the month of July, an increase of 6 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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