Environment and Energy
Active Gas & Oil Rig Counts in March
Written by Brett Linton
March 2, 2018
The U.S. rig count, an indicator of oil country tubular goods demand, rose this week, according to March 2 data from oilfield services company Baker Hughes. The number of active U.S. drill rigs rose by 3 to 981 rigs, with oil rigs up 1 to 800 rigs, gas rigs up 2 to 181 rigs, and miscellaneous rigs unchanged at 0 rigs. Compared to this time last year, the 981 count is up 225 rigs, with oil rigs up 191, gas rigs up 35, and miscellaneous rigs down 1. See the first graph below for a history of active U.S. rig counts.
The Canadian rig count is slowing from its seasonal peak at the start of the year. This past week, the count fell 4 to 302 rigs, with oil rigs up 2 to 211 rigs, gas rigs down 6 to 91 rigs, and miscellaneous rigs unchanged at 0. Compared to last year, the 302 count is down by 33 rigs, with oil rigs up 14, gas rigs down 47, and miscellaneous rigs unchanged. See the second graph below for a history of active Canadian rig counts.
International rigs increased by 6 to 960 rigs for the month of January, an increase of 27 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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