Market Data
April 28, 2017
Active Gas & Oil Rig Counts: The Trend Continues
Written by Brett Linton
According to Baker Hughes data from April 28, 2017, the US rig count for the week was 870 rigs exploring for or developing oil or natural gas. This is up 13 rigs compared to last week, with oil rigs up 9 to 697 rigs, gas rigs up 4 to 171 rigs, and miscellaneous rigs unchanged at 2 rigs. Compared to this time last year, the 870 count is up 450 rigs, with oil rigs up 365, gas rigs up 84, and miscellaneous rigs up 1.
The Canadian rig count decreased by 14 to 85 rigs this past week, with oil rigs down 9 to 24 rigs, gas rigs down 5 to 61 rigs, and miscellaneous rigs unchanged at 0 rigs. Compared to last year the 85 count is up 48 rigs, with oil rigs up 14, gas rigs up 35, 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.
