Steel Markets
US and Canadian Rig Counts: Higher Weekly Counts
Written by Brett Linton
January 26, 2014
According to Baker Hughes data from January 24th, 2014, the U.S rig count for this week is 1,777 rigs exploring for or developing oil or natural gas. This count is unchanged when compared to last week, with oil rigs up 8 to 1,416 rigs, gas rigs down 9 to 356 rigs, and miscellaneous rigs up 1 to 5 rigs. Compared to last year the 1,777 count is an increase of 24 rigs, with oil rigs up by 101, gas rigs down by 78, and miscellaneous rigs up by 1.
The Canadian rig count increased by 25 to 590 rigs this week, with oil rigs up 15 to 394 rigs and gas rigs up 10 to 196 rigs. Compared to last year the 590 count is a decrease of 31 rigs, with oil rigs down by 80 and gas rigs up by 49. International rigs increased by 24 to 1,335 rigs for the month of December, an increase of 82 rigs from the same month one year ago. For a history of both the US and 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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