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    October 28, 2016

    Rig Counts Slowly Moving Higher in Both USA & Canada

    Written by Brett Linton

    According to Baker Hughes data from October 28, 2016, the U.S rig count for the week was 557 rigs exploring for or developing oil or natural gas. This is up 4 rigs compared to last week, with oil rigs down 2 to 441 rigs, gas rigs up 6 to 114 rigs, and miscellaneous rigs unchanged at 2 rigs. Compared to this time last year, the 557 count is down 218 rigs, with oil rigs down 137, gas rigs down 83, and miscellaneous rigs up 2.

    The Canadian rig count increased by 10 to 153 rigs this past week, with oil rigs up 4 to 73 rigs, gas rigs up 5 to 79 rigs, and miscellaneous rigs up 1 to 1 rig. Compared to last year the 153 count is a decrease of 38 rigs, with oil rigs down 11, gas rigs down 28, and miscellaneous rigs up 1. 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.

    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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