Market Data
February 3, 2017
Active Oil & Gas Rig Counts Continue to Rise
Written by Brett Linton
According to Baker Hughes data from February 3, 2017, the U.S rig count for the week was 729 rigs exploring for or developing oil or natural gas. This is up 17 rigs compared to last week, with oil rigs up 17 to 583 rigs, gas rigs unchanged at 145 rigs, and miscellaneous rigs unchanged at 1 rig. Compared to this time last year, the 729 count is up 158 rigs, with oil rigs up 116, gas rigs up 41, and miscellaneous rigs up 1.
The Canadian rig count decreased by 2 to 343 rigs this past week, with oil rigs down 3 to 197 rigs, gas rigs up 1 to 146 rigs, and miscellaneous rigs unchanged at 0 rigs. Compared to last year the 343 count is up 101 rigs, with oil rigs up 66, gas rigs up 35, and miscellaneous rigs unchanged. International rigs increased by 4 to 929 rigs for the month of December, a decrease of 166 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.
