Market Data
March 9, 2019
Slowdown in Active Gas and Oil Rig Counts
Written by Brett Linton
The U.S. active rotary rig count, an indicator of oil country tubular goods demand, decreased this week, according to oilfield services company Baker Hughes. The number of active U.S. rigs fell by 11 to 1,027, with oil rigs down 9 and gas rigs down 2. Compared to this time last year, the 1,027 count is up 43 rigs, with oil rigs up 38 and gas rigs up 5. See the first graph below for a history of active U.S. rig counts.
The Canadian rig count fell by 22 to 189 rigs, with oil rigs down 22 and gas rigs unchanged. Compared to last year, the 189 count is down 84 rigs, with oil rigs down 78 and gas rigs down 6. See the second graph below for a history of active Canadian rig counts.
