Steel Products Prices North America

US Rig Count Up 2 While Canada Up 17 from Previous Week

Written by Brett Linton

November 29, 2013

According to Baker Hughes data from November 27th, 2013, the U.S rig count for this week is 1,763 rigs exploring for or developing oil or natural gas. This count is an increase of 2 rigs when compared to last week, with oil rigs up 4 to 1,391 rigs, gas rigs down 2 to 367 rigs, and miscellaneous rigs unchanged at 5 rigs. Compared to last year the 1,763 count is a decrease of 48 rigs, with oil rigs up by 5, gas rigs down by 57, and miscellaneous rigs up by 4.

The Canadian rig count increased by 17 to 385 rigs this week, with oil rigs up 15 to 215 rigs, and gas rigs up 2 to 170 rigs. Compared to last year the 385 count is a decrease of 14 rigs, with oil rigs down by 72 and gas rigs up by 58. 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

Brett Linton is a senior analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.

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