According to Baker Hughes data from July 11th, 2014, the U.S rig count for this week is 1,875 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 1 to 1,563 rigs, gas rigs unchanged at 311 rigs, and miscellaneous rigs unchanged at 1 rig. Compared to last year the 1,875 count is an increase of 116 rigs, with oil rigs up by 172, gas rigs down by 51, and miscellaneous rigs down by 5.
The Canadian rig count increased by 6 to 315 rigs this week, with oil rigs down 12 to 178 rigs and gas rigs up 18 to 137 rigs. Compared to last year the 315 count is an increase of 21 rigs, with oil rigs down by 23 and gas rigs up by 44. International rigs decreased by 6 to 1,344 rigs for the month of June, an increase of 11 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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