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    September 23, 2016

    Rig Counts Increase for US and Canada

    Written by Brett Linton

    According to Baker Hughes data from September 23, 2016, the U.S rig count for the week was 511 rigs exploring for or developing oil or natural gas. This is up 5 rigs compared to last week, with oil rigs up 2 to 418 rigs, gas rigs up 3 to 92 rigs, and miscellaneous rigs unchanged at 1 rig. Compared to this time last year, the 511 count is down 327 rigs, with oil rigs down 223, gas rigs down 105, and miscellaneous rigs up 1.

    The Canadian rig count increased by 6 to 138 rigs this past week, with oil rigs up 2 to 77 rigs, gas rigs up 5 to 61 rigs, and miscellaneous rigs down 1 to 0 rigs. Compared to last year the 138 count is a decrease of 38 rigs, with oil rigs up 11, gas rigs down 49, and miscellaneous rigs unchanged. International rigs increased by 1 to 937 rigs for the month of August, a decrease of 200 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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