Steel Markets

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

Written by Brett Linton

February 20, 2015

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.

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

Brett Linton is a senior 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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