U.S and Canadian active rotary drill rig counts were mixed this week, according to updated data released by oilfield services company Baker Hughes. The rig 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 rose by 8 this week to 346, with oil rigs up 5, gas rigs up 2, and miscellaneous rigs up 1. Compared to this time last year, this week’s count is down 467 rigs, with oil rigs down 422, gas rigs down 44, and miscellaneous rigs down 1. See the first graph below for a history of active U.S. rig counts.
The Canadian rig count declined by 9 to 102 rigs, with oil rigs down 11, gas rigs up 2, and miscellaneous rigs unchanged. Compared to last year, this week’s count is down 47 rigs, with oil rigs down 47, gas rigs unchanged, and miscellaneous rigs unchanged. See the second graph below for a history of active Canadian rig counts.
International rigs increased by 13 to 669 rigs for the month of November, a decrease of 427 rigs from the same month one year ago. For a history of both the U.S. and Canadian rig count, visit the Rig Count page on the Steel Market Update website here.
About the Rotary Rig Count
A rotary rig is one that rotates the drill pipe from the surface to either drill a new well or sidetrack an existing one. They are drilled to explore for, develop and produce oil or natural gas. The Baker Hughes Rotary Rig count includes only those rigs that are significant consumers of oilfield services and supplies.
The Baker Hughes North American Rotary Rig Count is a weekly census of the number of drilling rigs actively exploring for or developing oil or natural gas in the United States and Canada. Rigs considered active must be on location and drilling. They are considered active from the time they break ground until the time they reach their target depth.
The Baker Hughes International Rotary Rig Count is a monthly census of active drilling rigs exploring for or developing oil or natural gas outside of the United States and Canada. International rigs considered active must be drilling at least 15 days during the month. The Baker Hughes International Rotary Rig Count does not include rigs drilling in Russia or onshore China.
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