Canada
October 7, 2016
Active Gas & Oil Rig Counts Increase in US and Canada
Written by Brett Linton
According to Baker Hughes data from October 7, 2016, the U.S rig count for the week was 524 rigs exploring for or developing oil or natural gas. This is up 2 rigs compared to last week, with oil rigs up 3 to 428 rigs, gas rigs down 2 to 94 rigs, and miscellaneous rigs up 1 to 2 rigs. Compared to this time last year, the 524 count is down 271 rigs, with oil rigs down 177, gas rigs down 95, and miscellaneous rigs up 1.
The Canadian rig count increased by 3 to 165 rigs this past week, with oil rigs up 3 to 87 rigs, gas rigs unchanged at 78 rigs, and miscellaneous rigs unchanged at 0 rigs. Compared to last year the 165 count is a decrease of 15 rigs, with oil rigs up 13, gas rigs down 28, and miscellaneous rigs unchanged. International rigs decreased by 3 to 934 rigs for the month of September, a decrease of 206 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.
