Steel Markets
Active Oil and Gas Rig Counts: Down Over Last Week but Up Over Last Year
Written by Brett Linton
May 2, 2014
According to Baker Hughes data from May 2nd, 2014, the U.S rig count for this week is 1,854 rigs exploring for or developing oil or natural gas. This count is a decrease of 7 rigs when compared to last week, with oil rigs down 7 to 1,527 rigs, gas rigs unchanged at 323 rigs, and miscellaneous rigs unchanged at 4 rigs. Compared to last year the 1,854 count is an increase of 90 rigs, with oil rigs up by 124, gas rigs down by 31, and miscellaneous rigs down by 3.
The Canadian rig count decreased by 5 to 163 rigs this week, following the seasonal trend associated with Canadian drill rigs. Oil rigs are down 2 to 67 rigs and gas rigs down 3 to 96 rigs. Compared to last year the 163 count is an increase of 42 rigs, with oil rigs up by 1 and gas rigs up by 41. 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 Linton
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