According to Baker Hughes data from November 23, 2016, the U.S rig count for the week was 593 rigs exploring for or developing oil or natural gas. This is up 5 rigs compared to last week, with oil rigs up 3 to 474 rigs, gas rigs up 2 to 118 rigs, and miscellaneous rigs unchanged at 1 rig. Compared to this time last year, the 593 count is down 151 rigs, with oil rigs down 81, gas rigs down 71, and miscellaneous rigs up 1.
The Canadian rig count decreased by 10 to 174 rigs this past week, with oil rigs down 6 to 94 rigs, gas rigs down 6 to 78 rigs, and miscellaneous rigs up 2 to 2 rigs. Compared to last year the 174 count is down 10 rigs, with oil rigs up 13, gas rigs down 25, and miscellaneous rigs up 2. International rigs decreased by 14 to 920 rigs for the month of October, a decrease of 191 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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