Steel Markets
US and Canadian Rig Counts: Slightly Down
Written by Brett Linton
March 21, 2014
According to Baker Hughes data from March 21st, 2014, the U.S rig count for this week is 1,803 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 up 12 to 1,473 rigs, gas rigs down 18 to 326 rigs, and miscellaneous rigs unchanged at 4 rigs. Compared to last year the 1,803 count is an increase of 57 rigs, with oil rigs up by 149, gas rigs down by 92, and miscellaneous rigs unchanged.
The Canadian rig count decreased by 133 to 389 rigs this week, following the seasonal trend associated with Canadian drill rigs. Oil rigs are down 117 to 210 rigs and gas rigs down 16 to 179 rigs. Compared to last year the 389 count is an increase of 52 rigs, with oil rigs down by 11 and gas rigs up by 63. International rigs increased by 16 to 1,341 rigs for the month of February, an increase of 66 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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