Market Data
April 8, 2017
US Oil & Gas Rigs Continue Their Comeback
Written by Brett Linton
According to Baker Hughes data from April 7, 2017, the US rig count for the week was 839 rigs exploring for or developing oil or natural gas. This is up 15 rigs compared to last week, with oil rigs up 10 to 672 rigs, gas rigs up 5 to 165 rigs, and miscellaneous rigs unchanged at 2 rigs. Compared to this time last year, the 839 count is up 396 rigs, with oil rigs up 318, gas rigs up 76, and miscellaneous rigs up 2.
The Canadian rig count decreased by 23 to 132 rigs this past week, with oil rigs down 13 to 42 rigs, gas rigs down 10 to 90 rigs, and miscellaneous rigs unchanged at 0 rigs. Compared to last year the 132 count is up 91 rigs, with oil rigs up 34, gas rigs up 57, and miscellaneous rigs unchanged. International rigs increased by 2 to 943 rigs for the month of March, a decrease of 42 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.
