Active rig counts rise in US and Canada

Drilling activity increased in both the US and Canada last week, according to the latest oil and gas rig count data released by Baker Hughes. US counts remain just above historical lows, while Canadian figures are relatively healthy.

The total US rig count was up one rig week over week (w/w) to 548. This is just 12 rigs higher than the nearly four-year low reached in late August. It is also 37 rigs below the same week last year.

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.