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

The U.S. active rotary 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 19 to 1,025, with oil rigs up 15 and gas rigs up 4. Compared to this time last year, the 1,025 count is up 22 rigs, with oil rigs up 23 and gas rigs down 1. See the first graph below for a history of active U.S. rig counts.

As typically seen with the the March/April downward trend, the Canadian rig count declined again this week by 20 rigs to 68 rigs, with oil rigs down 13 and gas rigs down 7. Compared to last year, the 68 count is down 43 rigs, with oil rigs down 26 and gas rigs down 17. See the second graph below for a history of active Canadian rig counts.