OCTG
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/oil_drill.png)
US and Canadian rig counts decrease
Written by Becca Moczygemba
December 15, 2023
Active rig counts fell in the US and Canada for the week ended Dec. 15, according to Baker Hughes.
US rig count
US rigs edged down by three to 623 compared to the week prior. Oil rigs dropped by two to 501, but gas rigs went unchanged at 119. Miscellaneous rigs dropped by one to three.
Compared to the same period one year ago, the US count is down by 153. There are 119 fewer oil rigs, 35 fewer gas rigs, but one more miscellaneous rig.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/12/1215_RigCount_Fig1-1024x622.png)
Canadian rig count
Canada’s drilling companies cut active rigs by nine, bringing the count to 185 active rigs. Oil rigs dropped by two to 118 and gas rigs moved down by seven to 67.
Year over year there are six fewer oil rigs and eight fewer gas rigs. Overall, there are 14 less rigs than there were at the same time in 2022.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/12/1215_RigCount_Fig2-1024x623.png)
International rig count
The international rig count is updated monthly. The total number of active rigs during the month of November was 978, up 16 from the previous month, and increasing by 68 from November 2022.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/12/1215_RigCount_Tab-1-1024x265.png)
The Baker Hughes rig count is important to the steel industry as it is a leading indicator of demand for oil country tubular goods (OCTG), a key end market for steel sheet.
A rotary rig rotates the drill pipe from the surface to either drill a new well or sidetrack an existing one. Wells are drilled to explore for, develop, and produce oil or natural gas. Baker Hughes’ rotary rig count includes only those rigs that are significant consumers of oilfield services and supplies.
For a history of the US and Canadian rig counts, visit the rig count page on our website.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/04/becca-moczygemba-150x150.png)
Becca Moczygemba
Read more from Becca MoczygembaLatest in OCTG
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/12/Rig_count_pic_3-scaled.jpg)
Active rig counts recover in US, slip in Canada
US drill rig activity moved back up last week after drifting lower for four straight weeks. Meanwhile, Canadian counts slipped for the first time after a seven-week rally, according to the latest data from Baker Hughes.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/oil_drill.png)
Active rig counts fall further in US, rise in Canada
US drill rig activity eased for the fourth consecutive week last week, while Canadian counts increased for the seventh week in a row, according to the latest data release from Baker Hughes.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/oil_drill.png)
US active rig counts fall further while Canada rises
US drill rig activity eased again last week, now down to levels not seen since late-2021, according to the latest data release from Baker Hughes. Canadian counts are moving in the opposite direction, inching higher for the sixth consecutive week to a three-month high.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/oil_drill.png)
Active rig counts update: US eases while Canada rises
US drill rig activity eased further last week, now down to a two-and-a-half-year low according to the latest update from Baker Hughes. In contrast, Canadian counts inched higher and are now at a three-month high.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/oil_drill.png)
Active rig count update: US flat, Canada rises
S drill rig activity held steady last week, remaining near two-year lows according to the latest update from Baker Hughes