Steel Products Prices North America
US Rig Count Continues to Drop while Canadian Count Increases
Written by Brett Linton
January 3, 2014
According to Baker Hughes data from January 3rd, 2014, the U.S rig count for this week is 1,751 rigs exploring for or developing oil or natural gas. This count is a decrease of 6 rigs when compared to last week, with oil rigs down 4 to 1,378 rigs, gas rigs down 2 to 372 rigs, and miscellaneous rigs unchanged at 1 rig. Compared to last year the 1,751 count is a decrease of 11 rigs, with oil rigs up by 60, gas rigs down by 67, and miscellaneous rigs down by 4. For a history of the U.S. rig count click here.
The Canadian rig count increased by 19 to 282 rigs this week after a sharp decrease of 135 rigs last week. This week’s oil rigs were up 21 to 152 rigs and gas rigs were down 2 to 130 rigs. Compared to last year the 282 count is an increase of 24 rigs, with oil rigs up by 3 and gas rigs up by 21. 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. For a history of the Canadian rig count click here.
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
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