Market Data
October 14, 2018
Active Gas & Oil Rig Counts Looking Positive
Written by Brett Linton
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 11 to 1,063, with oil rigs up 8 to 869 rigs, gas rigs up 4 to 193 rigs, and miscellaneous rigs down 1 to 1 rig. Compared to this time last year, the 1,063 count is up 135 rigs, with oil rigs up 126, gas rigs up 8, 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 13 to 195 rigs, with oil rigs up 8 to 127 rigs, gas rigs up 5 to 68 rigs, and miscellaneous rigs unchanged at 0. Compared to last year, the 195 count is down 17 rigs, with oil rigs up 15, gas rigs down 32, and miscellaneous rigs unchanged. See the second graph below for a history of active Canadian rig counts.
