U.S. Drops 56 and Canada Down 19 Oil & Gas Rigs

According to Baker Hughes data from November 22^nd, 2013, the U.S rig count for this week is 1,761 rigs exploring for or developing oil or natural gas. This count is a decrease of 1 rig when compared to last week, with oil rigs up 2 to 1,387 rigs, gas rigs down 1 to 369 rigs, and miscellaneous rigs down 2 to 5 rigs. Compared to last year the 1,761 count is a decrease of 56 rigs, with oil rigs down by 1, gas rigs down by 59, and miscellaneous rigs up by 4.

The Canadian rig count decreased by 33 to 368 rigs this week, with oil rigs down 34 to 200 rigs, and gas rigs up 1 to 168 rigs. Compared to last year the 368 count is a decrease of 19 rigs, with oil rigs down by 81 and gas rigs up by 62. 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.