Market Data
June 3, 2017
US Rig Count Has Increased Week-Over-Week for 20 Weeks
Written by Brett Linton
According to Baker Hughes data from June 2, 2017, the US rig count for the week was 916 rigs exploring for or developing oil or natural gas. This is up 8 rigs compared to last week, with oil rigs up 11 to 733 rigs, gas rigs down 3 to 182 rigs, and miscellaneous rigs unchanged at 1 rig. Active US rigs have increased week over week for the past 20 weeks (see the first graph below). Compared to this time last year, the 916 count is up 508 rigs, with oil rigs up 408, gas rigs up 100, and miscellaneous rigs unchanged.
The Canadian rig count increased by 6 to 99 rigs this past week, with oil rigs up 11 to 51 rigs, gas rigs down 5 to 48 rigs, and miscellaneous rigs unchanged at 0 rigs. Active Canadian rigs have increased week over week for the last 3 weeks, following an 11 week period of consecutively weekly declines (see the second graph below). Compared to last year the 99 count is up 58 rigs, with oil rigs up 38, gas rigs up 20, and miscellaneous rigs unchanged.
