Active Gas & Oil Rig Counts: U.S. Up, Canada Down

The U.S. active rig count, an indicator of oil country tubular goods demand, increased this week, according to oilfield services company Baker Hughes. The number of active U.S. rigs rose by 1 to 1,054, with oil rigs down 3 to 863 rigs, gas rigs up 3 to 189 rigs, and miscellaneous rigs up 1 to 2 rigs. Compared to this time last year, the 1,054 count is up 114 rigs, with oil rigs up 113, gas rigs unchanged, and miscellaneous rigs up 1. See the first graph below for a history of active U.S. rig counts.

The Canadian rig count fell by 19 to 178 rigs, with oil rigs down 13 to 122 rigs, gas rigs down 6 to 56 rigs, and miscellaneous rigs unchanged at 0. Compared to last year, the 178 count is down 35 rigs, with oil rigs up 9, gas rigs down 44, and miscellaneous rigs unchanged. See the second graph below for a history of active Canadian rig counts.