Steel Markets
Active Oil and Gas Rigs: US Down, Canada Up
Written by Brett Linton
August 22, 2014
According to Baker Hughes data from August 22, 2014, the U.S rig count for this week is 1,896 rigs exploring for or developing oil or natural gas. This count is a decrease of 17 rigs when compared to last week, with oil rigs down 25 to 1,564 rigs, gas rigs up 9 to 330 rigs, and miscellaneous rigs down 1 to 2 rigs. Compared to last year the 1,896 count is an increase of 120 rigs, with oil rigs up by 182 gas rigs down by 57, and miscellaneous rigs down by 5.
The Canadian rig count increased by 4 to 405 rigs this week, with oil rigs up 12 to 236 rigs and gas rigs down 8 to 169 rigs. Compared to last year the 405 count is an increase of 22 rigs, with oil rigs down by 10 and gas rigs up by 32. International rigs increased by 38 to 1,382 rigs for the month of July, 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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