OCTG

Active rig count holds in US but grows in Canada

Written by David Schollaert

August 15, 2025

Oil and gas drilling in the US was unchanged this past week following three straight weeks of declining activity. Canada saw another gain, reaching a 22-week high.

The weekly count of active rotary rigs in the US, as reported by oilfield services provider Baker Hughes, was flat at 539 as of Friday, Aug. 15. Active oil rigs increased by one, while gas rigs were down 1 to 122. Miscellaneous rigs were flat at five total week on week (w/w).

In Canada, the active rig count rose by three from the previous week to 183, its best total since the week ended March 14, 2025. Gas drilling activity was unchanged w/w at 57, while oil drilling declined by one rig to zero.

The international rig count is reported monthly at the beginning of each month. The July count was 914 rigs, up one from June but down 20 from July last year.

The Baker Hughes rig count is significant for the steel industry because it is a leading indicator of oil country tubular goods (OCTG) demand, a key end market for steel sheet.

For a history of the US and Canadian rig counts, visit the rig count page on our website.

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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