Market Data
February 12, 2016
Oil & Gas Rigs Counts Decline in US and Canada
Written by Brett Linton
According to Baker Hughes data from February 12, 2016, the U.S rig count for the week was 541 rigs exploring for or developing oil or natural gas. This is a decrease of 30 rigs when compared to last week, with oil rigs down 28 to 439 rigs, gas rigs down 2 to 102 rigs, and miscellaneous rigs unchanged at 0 rigs. Compared to this time last year, the 541 count is down 817 rigs, with oil rigs down 617, gas rigs down 198, and miscellaneous rigs down 2.
The Canadian rig count decreased by 20 to 222 rigs this past week, with oil rigs down 13 to 118 rigs and gas rigs down 7 to 104 rigs. Compared to last year the 222 count is a decrease of 160 rigs, with oil rigs down 80 and gas rigs down 80. International rigs decreased by 50 to 1,045 rigs for the month of January, a decrease of 213 rigs from the same month one year ago. For a history of both the US and Canadian rig count, visit the Steel Market Update website here.
