U.S. Rig Count Down 123 and Canada Up 32 From Previous Year

The Canadian rig count was unchanged at 358 rigs this week, with oil rigs up 1 to 231 rigs, and gas rigs down 1 to 127 rigs. Compared to last year the 358 count is an increase of 32 rigs, with oil rigs down by 10 and gas rigs up by 42. International rigs decreased by 28 to 1,305 rigs last month, an increase of 41 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. SMU recently published an article covering the importance of drilling rigs to the steel industry which can be seen here.

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.