According to Baker Hughes data from April 25th, 2014, the U.S rig count for this week is 1,861 rigs exploring for or developing oil or natural gas. This count is an increase of 30 rigs when compared to last week, with oil rigs up 24 to 1,534 rigs, gas rigs up 7 to 323 rigs, and miscellaneous rigs down 1 to 4 rigs. Compared to last year the 1,861 count is an increase of 107 rigs, with oil rigs up by 153, gas rigs down by 43, and miscellaneous rigs down by 3.
The Canadian rig count decreased by 31 to 168 rigs this week, following the seasonal trend associated with Canadian drill rigs. Oil rigs are down 16 to 69 rigs and gas rigs down 15 to 99 rigs. Compared to last year the 168 count is an increase of 46 rigs, with oil rigs up by 3 and gas rigs up by 43. International rigs increased by 4 to 1,345 rigs for the month of March, an increase of 77 rigs from the same month one year ago. For a history of both the US and Canadian rig count click here.
About the Rotary Rig Count
A rotary rig is one that rotates the drill pipe from the surface to either drill a new well or sidetracking an existing one. They are drilled to explore for, develop and produce oil or natural gas. The Baker Hughes Rotary Rig count includes only those rigs that are significant consumers of oilfield services and supplies.
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 considered active must be on location and drilling. They are considered active from the time they break ground until the time they reach their target depth.
The Baker Hughes International Rotary Rig Count is a monthly census of active drilling rigs exploring for or developing oil or natural gas outside of the United States and Canada. International rigs considered active must be drilling at least 15 days during the month. The Baker Hughes International Rotary Rig Count does not include rigs drilling in Russia or onshore China.
Brett LintonRead more from Brett Linton
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