Steel Products Prices North America

US & Canada Rig Counts Continue to Drop

Written by Brett Linton

December 26, 2013

According to Baker Hughes data from December 27, 2013, the U.S rig count for this week is 1,757 rigs exploring for or developing oil or natural gas. This count is a decrease of 11 rigs when compared to last week, with oil rigs down 13 to 1,382 rigs, gas rigs up 2 to 374 rigs, and miscellaneous rigs unchanged at 1 rig. Compared to last year the 1,757 count is a decrease of 6 rigs, with oil rigs up by 55, gas rigs down by 57, and miscellaneous rigs down by 4.

The Canadian rig count decreased by 135 to 263 rigs this week, with oil rigs down 96 to 131 rigs, and gas rigs down 39 to 132 rigs. Compared to last year the 263 count is an increase of 59 rigs, with oil rigs up by 27 and gas rigs up by 32. International rigs decreased by 4 to 1,311 rigs for the month of November, an increase of 44 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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