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    May 4, 2018

    Active Gas & Oil Rig Counts Up in May

    Written by Brett Linton

    The U.S. rig count, an indicator of oil country tubular goods demand, rose this week, according to May 4 data from oilfield services company Baker Hughes. The number of active U.S. drill rigs rose by 11 to 1,032 rigs, with oil rigs up 9 to 834 rigs, gas rigs up 1 to 196 rigs, and miscellaneous rigs up 1 to 2 rigs. Compared to this time last year, the 1,032 count is up 155 rigs, with oil rigs up 131, gas rigs up 23, and miscellaneous rigs up 1. See the first graph below for a history of active U.S. rig counts.

    The Canadian rig count rose by 1 to 86 rigs, with oil rigs up 4 to 37 rigs, gas rigs down 3 to 49 rigs, and miscellaneous rigs unchanged at 0. Compared to last year, the 86 count is up by 4 rigs, with oil rigs up 10, gas rigs down 6, and miscellaneous rigs unchanged. 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.

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