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    Analysis

    January 30, 2015

    Active Gas & Oil Rigs Continue to Decline

    Written by Brett Linton

    According to Baker Hughes data from January 30th, 2015, the U.S rig count for this week is 1,543 rigs exploring for or developing oil or natural gas. This count is a decrease of 90 rigs when compared to last week, with oil rigs down 94 to 1,223 rigs, gas rigs up 3 to 319 rigs, and miscellaneous rigs up from zero to 1 rig. Compared to last year the 1,543 count is a decrease of 242 rigs, with oil rigs down by 199, gas rigs down by 39, and miscellaneous rigs down by 4.

    The Canadian rig count decreased by 38 to 394 rigs this week, with oil rigs down 23 to 200 rigs and gas rigs down 15 to 194 rigs. Compared to last year the 394 count is a decrease of 214 rigs, with oil rigs down by 204 and gas rigs down by 10. 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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