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    January 5, 2018

    Rig Count Sees Small Decline

    Written by Brett Linton

    The weekly U.S. rig count, an indicator of oil country tubular goods demand, decreased this week, according to Jan. 5 data from oilfield services company Baker Hughes. The number of active U.S. drill rigs declined by 5 to 924 rigs, with oil rigs down 5 to 742 rigs, gas rigs unchanged at 182 rigs, and miscellaneous rigs unchanged at 0 rigs. Compared to this time last year, the 924 count is up 259 rigs, with oil rigs up 213, gas rigs up 47, and miscellaneous rigs down 1. See the first graph below for a history of active U.S. rig counts.

    The Canadian rig count increased by 38 to 174 rigs this past week, with oil rigs up 36 to 98 rigs, gas rigs up 2 to 76 rigs, and miscellaneous rigs unchanged at 0. Compared to last year, the 174 count is down 31 rigs, with oil rigs up 17, gas rigs down 47, and miscellaneous rigs down 1. See the second graph below for a history of active Canadian rig counts.

    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.

    Read more from Brett Linton

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