Market Data
April 22, 2017
US Rig Count Continues March Higher
Written by Brett Linton
According to Baker Hughes data from April 21, 2017, the US rig count for the week was 857 rigs exploring for or developing oil or natural gas. This is up 10 rigs compared to last week, with oil rigs up 5 to 688 rigs, gas rigs up 5 to 167 rigs, and miscellaneous rigs unchanged at 2 rigs. Compared to this time last year, the 857 count is up 426 rigs, with oil rigs up 345, gas rigs up 79, and miscellaneous rigs up 2.
The Canadian rig count decreased by 19 to 99 rigs this past week, with oil rigs down 7 to 33 rigs, gas rigs down 12 to 66 rigs, and miscellaneous rigs unchanged at 0 rigs. Compared to last year the 99 count is up 59 rigs, with oil rigs up 21, gas rigs up 39, and miscellaneous rigs down 1. 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.
