Rig count falls in US, rises in Canada

Written by Ethan Bernard

Drilling activity decreased in the US but rose in Canada in the week ended April 12, according to the latest data from Baker Hughes.

US rig count

The number of active drilling rigs in the US declined by three week over week (w/w) to 617. Oil rigs dropped by two to 506, while gas rigs were down by one to 109. Miscellaneous rigs remained unchanged at two.

There were 134 fewer active US rigs compared to the same week a year ago. Oil rigs have fallen by 84, gas rigs are down by 49, and miscellaneous rigs are off by one in the same comparison.

Canadian rig count

In Canada, the number of operating oil and gas rigs increased by five w/w to 141. Oil rigs were up by five to 70, and gas rigs were unchanged at 71.

Active rotary rigs in Canada are up by 14 from this time last year. The number of active oil rigs is up by 18, while gas rigs are down by four.

International rig count

The international rig count is updated monthly. The total number of active rigs for the month of March stood at 971, up 13 from the month prior and up 41 from March 2023.

The Baker Hughes rig count is important to the steel industry because 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. For a history of the US and Canadian rig counts, visit the rig count page on our website.

Ethan Bernard

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