Analysis
February 7, 2014
US and Canadian Rig Counts: Mixed Start in February
Written by Brett Linton
According to Baker Hughes data from February 7th, 2014, the U.S rig count for this week is 1,771 rigs exploring for or developing oil or natural gas. This count is a decrease of 14 rigs when compared to last week, with oil rigs down 6 to 1,416 rigs, gas rigs down 7 to 351 rigs, and miscellaneous rigs down 1 to 4 rigs. Compared to last year the 1,771 count is an increase of 12 rigs, with oil rigs up by 86, gas rigs down by 74, and miscellaneous rigs unchanged.
The Canadian rig count increased by 13 to 621 rigs this week, with oil rigs up 5 to 409 rigs and gas rigs up 8 to 212 rigs. Compared to last year the 621 count is a decrease of 10 rigs, with oil rigs down by 71 and gas rigs up by 61. International rigs decreased by 10 to 1,325 rigs for the month of January, an increase of 46 rigs from the same month one year ago. For a history of both the US and Canadian rig count click here.
