Analysis
July 7, 2014
Active Oil and Gas Rigs Start Strong in July
Written by Brett Linton
According to Baker Hughes data from July 3rd, 2014, the U.S rig count for this week is 1,874 rigs exploring for or developing oil or natural gas. This count is an increase of 1 rig when compared to last week, with oil rigs up 4 to 1,562 rigs, gas rigs down 3 to 311 rigs, and miscellaneous rigs unchanged at 1 rig. Compared to last year the 1,874 count is an increase of 117 rigs, with oil rigs up by 167, gas rigs down by 44, and miscellaneous rigs down by 6.
The Canadian rig count increased by 73 to 309 rigs this week, with oil rigs up 49 to 190 rigs and gas rigs up 24 to 119 rigs. Compared to last year the 309 count is an increase of 95 rigs, with oil rigs up by 38 and gas rigs up by 57. International rigs increased by 1 to 1,350 rigs for the month of May, an increase of 67 rigs from the same month one year ago. For a history of both the US and Canadian rig count click here.
