Steel Markets
US and Canadian Rig Counts: Positive End to January
Written by Brett Linton
January 31, 2014
According to Baker Hughes data from January 31st, 2014, the U.S rig count for this week is 1,785 rigs exploring for or developing oil or natural gas. This count is an increase of 8 rigs when compared to last week, with oil rigs up 6 to 1,422 rigs, gas rigs up 2 to 358 rigs, and miscellaneous rigs unchanged at 5 rigs. Compared to last year the 1,785 count is an increase of 21 rigs, with oil rigs up by 90, gas rigs down by 70, and miscellaneous rigs up by 1.
The Canadian rig count increased by 18 to 608 rigs this week, with oil rigs up 10 to 404 rigs and gas rigs up 8 to 204 rigs. Compared to last year the 608 count is a decrease of 17 rigs, with oil rigs down by 69 and gas rigs up by 52. 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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