Steel Markets
U.S. Rig Count Down 97 and Canada Up 44 Rigs from Previous Year
Written by Brett Linton
September 6, 2013
According to Baker Hughes data from September 6th, 2013, the U.S rig count for this week is 1,767 rigs exploring for or developing oil or natural gas. This count is a decrease of 9 rigs when compared to last week, with oil rigs down 23 to 1,365 rigs, gas rigs up 14 to 394 rigs, and miscellaneous rigs unchanged at 8 rigs. Compared to last year the 1,767 count is a decrease of 97 rigs, with oil rigs down by 44, gas rigs down by 58, and miscellaneous rigs up by 5.
The Canadian rig count decreased by 10 to 389 rigs this week, with oil rigs down 9 to 247 rigs, and gas rigs down 1 to 142 rigs. Compared to last year the 389 count is an increase of 44 rigs, with oil rigs down by 9 and gas rigs up by 53. International rigs decreased by 28 to 1,305 rigs for the month of July, an increase of 41 rigs from the same month one 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.
Brett Linton
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