• Skip to main content

    Prices

    January 3, 2014

    US Rig Count Continues to Drop while Canadian Count Increases

    Written by Brett Linton

    According to Baker Hughes data from January 3rd, 2014, the U.S rig count for this week is 1,751 rigs exploring for or developing oil or natural gas. This count is a decrease of 6 rigs when compared to last week, with oil rigs down 4 to 1,378 rigs, gas rigs down 2 to 372 rigs, and miscellaneous rigs unchanged at 1 rig. Compared to last year the 1,751 count is a decrease of 11 rigs, with oil rigs up by 60, gas rigs down by 67, and miscellaneous rigs down by 4. For a history of the U.S. rig count click here.

    The Canadian rig count increased by 19 to 282 rigs this week after a sharp decrease of 135 rigs last week. This week’s oil rigs were up 21 to 152 rigs and gas rigs were down 2 to 130 rigs. Compared to last year the 282 count is an increase of 24 rigs, with oil rigs up by 3 and gas rigs up by 21. International rigs decreased by 4 to 1,311 rigs for the month of November, an increase of 44 rigs from the same month one year ago. For a history of the Canadian rig count click here.

    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 Prices

    Plate supply squeeze tightens as demand presses higher

    The domestic plate market is showing few signs of relief for steel buyers. Lead times are stretching well beyond seasonal norms, spot availability has all but evaporated, and mills are drawing hard lines on contract volumes heading into 2027 negotiations. And the supply squeeze will likely intensify in a market that some industry sources say is structurally undersupplied because of stringent US trade and tariff policies. Imports have been arriving in larger volumes, and the expectation is they will continue to tick higher into 2027. The big question is whether those foreign tons will arrive in volumes sufficient to provide the relief steel consumers want.