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    Analysis

    January 16, 2015

    US Gas & Oil Rigs Continue to Decline

    Written by Brett Linton

    According to Baker Hughes data from January 16th, 2015, the U.S rig count for this week is 1,676 rigs exploring for or developing oil or natural gas. This count is a decrease of 74 rigs when compared to last week, with oil rigs down 55 to 1,366 rigs, gas rigs down 19 to 310 rigs, and miscellaneous rigs unchanged at 0 rigs. Compared to last year the 1,676 count is a decrease of 101 rigs, with oil rigs down by 42, gas rigs down by 55, and miscellaneous rigs down by 4.

    The Canadian rig count increased by 74 to 440 rigs this week, with oil rigs up 53 to 234 rigs and gas rigs up 21 to 206 rigs. Compared to last year the 440 count is a decrease of 125 rigs, with oil rigs down by 145 and gas rigs up by 20. International rigs decreased by 11 to 1,313 rigs for the month of December, a decrease of 22 rigs from the same month one year ago. For a history of both the US and Canadian rig count click here.

    Brett Linton

    Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.

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