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    Analysis

    February 20, 2015

    Natural Gas & Oil Rig Count in US and Canada Continue to Plummet

    Written by Brett Linton

    According to Baker Hughes data from February 20th, 2015, the U.S rig count for this week is 1,310 rigs exploring for or developing oil or natural gas. This count is a decrease of 48 rigs when compared to last week, with oil rigs down 37 to 1,019 rigs, gas rigs down 11 to 289 rigs, and miscellaneous rigs unchanged at 2 rigs. Compared to last year the 1,310 count is a decrease of 461 rigs, with oil rigs down by 406, gas rigs down by 53, and miscellaneous rigs down by 2.

    The Canadian rig count decreased by 22 to 360 rigs this week, with oil rigs down 14 to 184 rigs and gas rigs down 8 to 176 rigs. Compared to last year the 360 count is a decrease of 272 rigs, with oil rigs down by 238 and gas rigs down by 34. International rigs decreased by 55 to 1,258 rigs for the month of January, a decrease of 67 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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