US and Canadian Rig Counts: Higher Weekly Counts

According to Baker Hughes data from January 24^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 unchanged when compared to last week, with oil rigs up 8 to 1,416 rigs, gas rigs down 9 to 356 rigs, and miscellaneous rigs up 1 to 5 rigs. Compared to last year the 1,777 count is an increase of 24 rigs, with oil rigs up by 101, gas rigs down by 78, and miscellaneous rigs up by 1.

The Canadian rig count increased by 25 to 590 rigs this week, with oil rigs up 15 to 394 rigs and gas rigs up 10 to 196 rigs. Compared to last year the 590 count is a decrease of 31 rigs, with oil rigs down by 80 and gas rigs up by 49. 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.