According to Baker Hughes data from May 27, 2016, the U.S rig count for the week was 404 rigs exploring for or developing oil or natural gas. This is unchanged compared to last week, with oil rigs down 2 to 316 rigs, gas rigs up 2 to 87 rigs, and miscellaneous rigs unchanged at 1 rig. Compared to this time last year, the 404 count is down 471 rigs, with oil rigs down 330, gas rigs down 138, and miscellaneous rigs down 3.
The Canadian rig count decreased by 1 to 43 rigs this past week, with oil rigs down 2 to 14 rigs, gas rigs up 1 to 28 rigs, and miscellaneous rigs unchanged at 1 rig. Compared to last year the 43 count is a decrease of 55 rigs, with oil rigs down 30, gas rigs down 26, and miscellaneous rigs up 1. International rigs decreased by 39 to 946 rigs for the month of April, a decrease of 256 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.
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.
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