Analysis
May 16, 2014
Active Oil and Gas Rig Counts Rise
Written by Brett Linton
According to Baker Hughes data from May 16th, 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 6 rigs when compared to last week, with oil rigs up 3 to 1,531 rigs, gas rigs up 3 to 326 rigs, and miscellaneous rigs unchanged at 4 rigs. Compared to last year the 1,861 count is an increase of 92 rigs, with oil rigs up by 123, gas rigs down by 28, and miscellaneous rigs down by 3.
The Canadian rig count increased by 8 to 153 rigs this week, following the seasonal trend associated with Canadian drill rigs. Oil rigs are up 8 to 62 rigs and gas rigs are unchanged at 91 rigs. Compared to last year the 153 count is an increase of 30 rigs, with oil rigs down by 8 and gas rigs up by 38. International rigs increased by 4 to 1,349 rigs for the month of April, 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.
