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    February 18, 2022

    Continued Recovery in Active U.S. and Canadian Drilling Rigs

    Written by Brett Linton

    The number of active oil and gas drill rigs continues to recover in both the U.S. and Canada, according to recent data released by oilfield services company Baker Hughes. The active drill rig count is important to the steel industry because it is a leading indicator of oil country tubular goods (OCTG) demand.

    The number of active U.S. rigs rose by 10 to 645 rigs, with oil rigs up 4 and gas rigs up 6. Compared to this time last year, this week’s count is up 248 rigs, with oil rigs up 215 and gas rigs up 33. 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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