Analysis
January 31, 2014
US and Canadian Rig Counts: Positive End to January
Written by Brett Linton
According to Baker Hughes data from January 31st, 2014, the U.S rig count for this week is 1,785 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 6 to 1,422 rigs, gas rigs up 2 to 358 rigs, and miscellaneous rigs unchanged at 5 rigs. Compared to last year the 1,785 count is an increase of 21 rigs, with oil rigs up by 90, gas rigs down by 70, and miscellaneous rigs up by 1.
The Canadian rig count increased by 18 to 608 rigs this week, with oil rigs up 10 to 404 rigs and gas rigs up 8 to 204 rigs. Compared to last year the 608 count is a decrease of 17 rigs, with oil rigs down by 69 and gas rigs up by 52. 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.
