• Skip to main content

    Canada

    May 19, 2023

    Rig Counts Drop in US, Canada

    Written by Becca Moczygemba

    Rig counts fell in both the US and Canada for the week ended May 19 vs. the week prior, according to the latest data from oilfield services company Baker Hughes.

    The total US rig count stood at 720 as of May 19, down 11 from the previous week. The number of active oil rigs in the US fell by 11 to 575 in the same comparison. Gas rigs and miscellaneous rigs remained unchanged, with gas rigs at 141 and miscellaneous rigs at four. When compared to this time last year, the US count is down by eight rigs, with oil rigs down one, gas rigs down nine, and miscellaneous rigs up two, respectively.

    Becca Moczygemba

    Becca Moczygemba is a reporter and editor for Steel Market Update. She has been in the steel industry since 2017, specializing in flat-rolled products. Prior to joining SMU, she held positions at Mitsui & Co. and Kloeckner Metals. Becca has a BA in Organizational/Corporate Communication from the University of Houston and an MBA from Norwich University. Contact Becca at becca@steelmarketupdate.com or 724-720-1000.

    Read more from Becca Moczygemba

    Latest in Canada

    Canadian minister urges probe of Cliffs’ handling of Stelco

    Canadian Minister of Industry Melanie Joly has urged that Canada’s Competition Bureau examine Cleveland-Cliffs’ conduct in the Canadian marketplace following its Stelco acquisition. Minister Joly sent a letter to Jeanne Pratt, Commissioner of Competition, on Friday, regarding testimony Cliffs Chairman and CEO Lourenco Goncalves made to the US Congressional Steel Caucus, and a subsequent interview to the CBC. oly said that in the Caucus testimony, “Goncalves stated that his company had acquired Stelco to ‘block’ it from selling into the US market.”

    Drilling activity ticks up in the US, eases in Canada

    The latest tally of active drilling rigs moved marginally higher in the US, up for the first time in five weeks. Activity eased in Canada this week, according to oil and gas rig count data published by Baker Hughes. The US rig count increased to 604 rigs this week, setting an 18-month high watermark. Compared with this time last year, 56 more rigs are in operation today. Canada’s count declined by three to 223 rigs this week, easing for the first time in three weeks. Activity is up from the same week of 2025, with 32 more rigs operating today.