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    May 28, 2017

    Active Gas & Oil Rig Counts: US and Canada Both Increasing

    Written by Brett Linton

    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.

    Brett Linton

    Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.

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