Market Data
March 14, 2020
Active Gas & Oil Rig Counts in March
Written by Brett Linton
Active U.S. gas and oil rigs slightly declined this past week, while Canadian rigs moderately declined following their annual trend, according to oilfield services company Baker Hughes. The active drill rigs count is important to the steel industry because it is a leading indicator of oil country tubular goods demand.
The number of active U.S. rigs fell by 1 to 792, with oil rigs up 1, gas rigs down 2, and miscellaneous rigs unchanged. Compared to this time last year, the 792 count is down 234 rigs, with oil rigs down 150, gas rigs down 86, and miscellaneous rigs up 2. See the first graph below for a history of active U.S. rig counts.
