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    October 9, 2020

    Active U.S. and Canadian Drill Rig Counts Slowly Inching Up

    Written by Brett Linton

    The number of active U.S and Canadian gas and oil rigs increased again this past week, 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 increased by 3 to 269, with oil rigs up 4, gas rigs down 1, and miscellaneous rigs unchanged. Compared to this time last year, this week’s count is down 587 rigs, with oil rigs down 519, gas rigs down 70, and miscellaneous rigs up 2. See the first graph below for a history of active U.S. rig counts.

    Brett Linton

    Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.

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