Environment and Energy
Rig Counts: US Increasing, Canada Decreasing
Written by Brett Linton
March 31, 2017
According to Baker Hughes data from March 31, 2017, the U.S rig count for the week was 824 rigs exploring for or developing oil or natural gas. This is up 15 rigs compared to last week, with oil rigs up 10 to 662 rigs, gas rigs up 5 to 160 rigs, and miscellaneous rigs unchanged at 2 rigs. Compared to this time last year, the 824 count is up 374 rigs, with oil rigs up 300, gas rigs up 72, and miscellaneous rigs up 2.
The Canadian rig count decreased by 30 to 155 rigs this past week, with oil rigs down 15 to 55 rigs, gas rigs down 14 to 100 rigs, and miscellaneous rigs down 1 to 0 rigs. Compared to last year the 155 count is up 106 rigs, with oil rigs up 44, gas rigs up 62, and miscellaneous rigs unchanged. International rigs increased by 8 to 941 rigs for the month of February, a decrease of 77 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.
Brett Linton
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