Steel Markets
Active Oil and Gas Rig Counts Remain Above 2013 Levels
Written by Brett Linton
May 9, 2014
According to Baker Hughes data from May 9th, 2014, the U.S rig count for this week is 1,855 rigs exploring for or developing oil or natural gas. This count is an increase of 1 rigs when compared to last week, with oil rigs up 1 to 1,528 rigs, gas rigs unchanged at 323 rigs, and miscellaneous rigs unchanged at 4 rigs. Compared to last year the 1,855 count is an increase of 86 rigs, with oil rigs up by 116, gas rigs down by 27, and miscellaneous rigs down by 3.
The Canadian rig count decreased by 18 to 145 rigs this week, following the seasonal trend associated with Canadian drill rigs. Oil rigs are down 13 to 54 rigs and gas rigs are down 5 to 91 rigs. Compared to last year the 145 count is an increase of 27 rigs, with oil rigs down by 11 and gas rigs up by 38. International rigs increased by 4 to 1,349 rigs for the month of March, an increase of 48 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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