Steel Products Prices North America

U.S. Rig Count Down 47 and Canada Up 17

Written by Brett Linton

November 17, 2013

According to Baker Hughes data from November 15th, 2013, the U.S rig count for this week is 1,762 rigs exploring for or developing oil or natural gas. This count is an increase of 8 rigs when compared to last week, with oil rigs up 2 to 1,385 rigs, gas rigs up 5 to 370 rigs, and miscellaneous rigs up 1 to 7 rigs. Compared to last year the 1,762 count is a decrease of 47 rigs, with oil rigs down by 5, gas rigs down by 47, and miscellaneous rigs up by 5.

US Gas and Oil RigsThe Canadian rig count increased by 23 to 401 rigs this week, with oil rigs up 13 to 234 rigs, and gas rigs up 10 to 167 rigs. Compared to last year the 401 count is an increase of 17 rigs, with oil rigs down by 44 and gas rigs up by 61. International rigs increased by 31 to 1,315 rigs for the month of October, an increase of 56 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

Brett Linton is a senior 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.

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