Economy
U.S. has 222 Fewer Rigs & Canada 15 Fewer than One Year Ago
Written by Brett Linton
March 25, 2013
According to Baker Hughes data from March 22nd, 2013, the U.S rig count for this week is 1,746 rigs exploring for or developing oil or natural gas. This number represents a decrease of 30 rigs from last week. Compared to last year the 1,746 count is a decrease of 222 rigs. Canadian rigs decreased by 166 to 337 rigs this week, a decrease of 15 rigs from a year ago. International rigs decreased by 4 to 1,275 rigs last month, an increase of 71 rigs from a year ago.
About the Rotary Rig Count
A rotary rig is one that rotates the drill pipe from the surface to either drill a new well or sidetracking an existing one. They are drilled to explore for, develop and produce oil or natural gas. The Baker Hughes Rotary Rig count includes only those rigs that are significant consumers of oilfield services and supplies.
The Baker Hughes North American Rotary Rig Count is a weekly census of the number of drilling rigs actively exploring for or developing oil or natural gas in the United States and Canada. Rigs considered active must be on location and drilling. They are considered active from the time they break ground until the time they reach their target depth.
The Baker Hughes International Rotary Rig Count is a monthly census of active drilling rigs exploring for or developing oil or natural gas outside of the United States and Canada. International rigs considered active must be drilling at least 15 days during the month. The Baker Hughes International Rotary Rig Count does not include rigs drilling in Russia or onshore China.
Brett Linton
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