Environment and Energy
Active Gas & Oil Rig Counts: US and Canada Both Increasing
Written by Brett Linton
May 28, 2017
According to Baker Hughes data from May 26, 2017, the US rig count for the week was 908 rigs exploring for or developing oil or natural gas. This is up 7 rigs compared to last week, with oil rigs up 2 to 722 rigs, gas rigs up 5 to 185 rigs, and miscellaneous rigs unchanged at 1 rig. Active US rigs have increased week over week for the past 19 weeks (see the first graph below). Compared to this time last year, the 908 count is up 504 rigs, with oil rigs up 406, gas rigs up 98, and miscellaneous rigs unchanged.
The Canadian rig count increased by 8 to 93 rigs this past week, with oil rigs up 4 to 40 rigs, gas rigs up 4 to 53 rigs, and miscellaneous rigs unchanged at 0 rigs. Active Canadian rigs have increased week over week for the last 2 weeks, following an 11 week period of consecutively weekly declines (see the second graph below). Compared to last year the 93 count is up 50 rigs, with oil rigs up 26, gas rigs up 25, and miscellaneous rigs down 1.
International rigs increased by 13 to 956 rigs for the month of April, an increase of 10 rigs from the same month one year ago. For a history of both the US and Canadian rig count, visit the Rig Count page on 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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