Steel Products Prices North America
U.S. Rig Count Down 52 and Canada Up 8
Written by Brett Linton
November 8, 2013
According to Baker Hughes data from November 8th, 2013, the U.S rig count for this week is 1,754 rigs exploring for or developing oil or natural gas. This count is an increase of 12 rigs when compared to last week, with oil rigs up 7 to 1,383 rigs, gas rigs up 5 to 365 rigs, and miscellaneous rigs unchanged at 6 rigs. Compared to last year the 1,754 count is a decrease of 52 rigs, with oil rigs down by 6, gas rigs down by 48, and miscellaneous rigs up by 2.
The Canadian rig count decreased by 16 to 378 rigs this week, with oil rigs down 12 to 221 rigs, and gas rigs down 4 to 157 rigs. Compared to last year the 378 count is an increase of 8 rigs, with oil rigs down by 47 and gas rigs up by 55. International rigs increased by 31 to 1,315 rigs for the month of October, an increase of 56 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.
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
Read more from Brett LintonLatest in Steel Products Prices North America
Nucor slows HRC price climb with $5/ton increase
After eight weeks of double-digit price increases on hot-rolled (HR) coil, Nucor slowed the price rise this week with an increase of $5 per short ton.
Domestic CRC prices surge ahead of imports
The price spread between stateside-produced CR and imports reached its widest margin in over a year.
Evraz raises plate prices $160/ton
Evraz North America (NA) has followed Nucor and SSAB with a plate price increase of its own: up $160 per short ton (st). The increase was effective immediately for all new orders of carbon, high-strength low-alloy, and normalized and quenched-and-tempered plate products, as well as for hot-rolled coil, the steelmaker said in a letter to […]
Nucor lifts HR coil to $820/ton
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil for a fourth consecutive week.
Nucor pushes HR spot price to $790/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $790 per short ton (st) on Monday, Feb. 10 – a $15/st bump vs. last week. The Charlotte, N.C.-based company has raised its weekly CSP by $40/st over the past three weeks after maintaining tags at $750/st since Nov. 12, according to SMU’s […]