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    May 7, 2021

    Active Gas & Oil Drill Rig Counts Increase

    Written by Brett Linton

    The number of active oil and gas drill rigs increased this past week for both the United States and Canada, according to 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 increased by 8 to 448 rigs, with oil rigs up 2, gas rigs up 7, and miscellaneous rigs down 1. Compared to this time last year, this week’s count is up 74 rigs, with oil rigs up 52, gas rigs up 23, and miscellaneous rigs down 1. 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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