Market Data
March 3, 2017
US Rig Counts Continue March Higher
Written by Brett Linton
According to Baker Hughes data from March 3, 2017, the U.S rig count for the week was 756 rigs exploring for or developing oil or natural gas. This is up 2 rigs compared to last week, with oil rigs up 7 to 609 rigs, gas rigs down 5 to 146 rigs, and miscellaneous rigs unchanged at 1 rig. Compared to this time last year, the 756 count is up 267 rigs, with oil rigs up 217, gas rigs up 49, and miscellaneous rigs up 1.
The Canadian rig count decreased by 6 to 335 rigs this past week, with oil rigs down 9 to 197 rigs, gas rigs up 3 to 138 rigs, and miscellaneous rigs unchanged at 0 rigs. Compared to last year the 335 count is up 206 rigs, with oil rigs up 147, gas rigs up 59, and miscellaneous rigs unchanged. International rigs increased by 4 to 933 rigs for the month of January, a decrease of 112 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.
