US and Canada Rig Counts Increase

According to Baker Hughes data from January 17^th, 2014, the U.S rig count for this week is 1,777 rigs exploring for or developing oil or natural gas. This count is an increase of 23 rigs when compared to last week, with oil rigs up 15 to 1,408 rigs, gas rigs up 8 to 365 rigs, and miscellaneous rigs unchanged at 4 rigs. Compared to last year the 1,777 count is an increase of 28 rigs, with oil rigs up by 92, gas rigs down by 64, and miscellaneous rigs unchanged.

The Canadian rig count increased by 88 to 565 rigs this week, with oil rigs up 79 to 379 rigs and gas rigs up 9 to 186 rigs. Compared to last year the 565 count is a decrease of 36 rigs, with oil rigs down by 79 and gas rigs up by 43. International rigs increased by 24 to 1,335 rigs for the month of December, an increase of 82 rigs from the same month one year ago. For a history of both the US and Canadian rig count click here.