Environment and Energy
Active Oil & Gas Rig Counts: Continued Improvement
Written by Brett Linton
July 7, 2017
Data from July 7, 2017, shows the U.S. rig count for the week was 952 rigs exploring for or developing oil or natural gas. The last time U.S. rig counts were this high was in early 2015, reports oilfield services company Baker Hughes Inc.
This is up 12 rigs compared to last week, with oil rigs up 7 to 763 rigs, gas up 5 to 189 rigs, and miscellaneous rigs unchanged at 0 rigs. Compared to this time last year, the 952 count is up 512 rigs, with oil rigs up 412, gas rigs up 101, and miscellaneous rigs down 1.
The Canadian rig count decreased by 14 to 175 rigs this past week, with oil rigs down 7 to 105 rigs, gas rigs down 7 to 70 rigs, and miscellaneous rigs unchanged at 0 rigs. Prior to this week, active Canadian rigs had increased week over week for the previous seven weeks (see second graph below). Compared to last year, the 175 count is up 94 rigs, with oil rigs up 67, gas rigs up 27, and miscellaneous rigs down 1.
International rigs increased by 1 to 957 rigs for the month of May, an increase of 2 rigs from the same month one year ago. For a history of both the U.S. 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 sidetrack 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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