Steel Products Prices North America
U.S. Rig Count Down 88 and Canada Up 34 Rigs from Previous Year
Written by Brett Linton
October 25, 2013
According to Baker Hughes data from October 25th, 2013, the U.S rig count for this week is 1,738 rigs exploring for or developing oil or natural gas. This count is a decrease of 1 rig when compared to last week, with oil rigs down 4 to 1,357 rigs, gas rigs up 4 to 376 rigs, and miscellaneous rigs down 1 to 5 rigs. Compared to last year the 1,738 count is a decrease of 88 rigs, with oil rigs down by 51, gas rigs down by 40, and miscellaneous rigs up by 3.
The Canadian rig count increased by 16 to 404 rigs this week, with oil rigs up 14 to 249 rigs, and gas rigs up 2 to 155 rigs. Compared to last year the 404 count is an increase of 34 rigs, with oil rigs down by 32, gas rigs up by 67, and miscellaneous rigs down by 1. International rigs increased by 17 to 1,284 rigs for the month of September, an increase of 30 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.
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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