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    August 19, 2016

    US Rig Count Continues to Rise

    Written by Brett Linton

    According to Baker Hughes data from August 19, 2016, the U.S rig count for the week was 491 rigs exploring for or developing oil or natural gas. This is up 10 rigs compared to last week, with oil rigs up 10 to 406 rigs, gas rigs unchanged at 83 rigs, and miscellaneous rigs unchanged at 2 rigs. Compared to this time last year, the 491 count is down 394 rigs, with oil rigs down 268, gas rigs down 128, and miscellaneous rigs up 2.

    The Canadian rig count decreased by 5 to 121 rigs this past week, with oil rigs unchanged at 65 rigs, gas rigs down 4 to 56 rigs, and miscellaneous rigs down 1 to 0 rigs. Compared to last year the 121 count is a decrease of 87 rigs, with oil rigs down 32, gas rigs down 55, and miscellaneous rigs unchanged. International rigs increased by 11 to 938 rigs for the month of July, a decrease of 180 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.

    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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