Analysis
March 21, 2014
US and Canadian Rig Counts: Slightly Down
Written by Brett Linton
According to Baker Hughes data from March 21st, 2014, the U.S rig count for this week is 1,803 rigs exploring for or developing oil or natural gas. This count is a decrease of 6 rigs when compared to last week, with oil rigs up 12 to 1,473 rigs, gas rigs down 18 to 326 rigs, and miscellaneous rigs unchanged at 4 rigs. Compared to last year the 1,803 count is an increase of 57 rigs, with oil rigs up by 149, gas rigs down by 92, and miscellaneous rigs unchanged.
The Canadian rig count decreased by 133 to 389 rigs this week, following the seasonal trend associated with Canadian drill rigs. Oil rigs are down 117 to 210 rigs and gas rigs down 16 to 179 rigs. Compared to last year the 389 count is an increase of 52 rigs, with oil rigs down by 11 and gas rigs up by 63. International rigs increased by 16 to 1,341 rigs for the month of February, an increase of 66 rigs from the same month one year ago. For a history of both the US and Canadian rig count click here.
