Market Data

Oil & Natural Gas Rig Count: Nat Gas 79% Below Peak
Written by Peter Wright
February 23, 2014
The Baker Hughes North American Rotary Rig Count is a weekly census of the number of drilling rigs actively exploring for or developing oil or natural gas in the United States and Canada. Rigs are considered active from the time they break ground until the time they reach their target depth and may be establishing a new well or sidetracking an existing one. The Baker Hughes Rotary Rig count includes only those rigs that are significant consumers of oilfield services and supplies.
Figure 2 shows that the oil rig count has been trending flat for 18 months but is still close to a high point for the last 2 ½ decades. The gas rig count is still trending down and is currently 79 percent below the peak of September 2008.
On a regional basis the big three states for operating rigs are now Texas at 843, Oklahoma at 181 and North Dakota at 166. Off shore drilling has recovered from the BP oil spill in 2010 but is still not back to where it was at the beginning of the last decade.
 
			    			
			    		Peter Wright
Read more from Peter WrightLatest in Market Data
 
		                                SMU Mill Order Index fell in September
SMU’s Mill Order Index declined in September after repeated gains from June through August. The shift came as service center shipping rates and inventories fell.
 
		                                North American auto assemblies slipped in September
North American auto assemblies declined in September, down 5.1% vs. August. And assemblies were also down 1% year on year.
 
		                                HARDI: Galv demand improves in October, higher prices expected in new year
Participants on this month’s Heating Air-Conditioning & Refrigeration Distributors International (HARDI) Sheet Metal/Air Handling Council call expect galvanized steel base prices to firm up in the first quarter of 2026.
 
		                                AISI: Raw steel mill output stabilizes
Domestic mill production inched higher last week, according to the latest figures released by the American Iron and Steel Institute (AISI). Prior to the start of this month, raw output had remained historically strong since June.
 
		                                Steel market chatter this week
What's on steel buyers' minds this week? We asked about market prices, demand, inventories, tariffs, imports, and other evolving market trends. Read on for buyers' comments in their own words...
