Steel Markets
Active Oil and Gas Rig Counts Mixed
Written by Brett Linton
June 27, 2014
According to Baker Hughes data from June 27th, 2014, the U.S rig count for this week is 1,873 rigs exploring for or developing oil or natural gas. This count is an increase of 15 rigs when compared to last week, with oil rigs up 13 to 1,558 rigs, gas rigs up 3 to 314 rigs, and miscellaneous rigs down 1 to 1 rig. Compared to last year the 1,873 count is an increase of 125 rigs, with oil rigs up by 168, gas rigs down by 39, and miscellaneous rigs down by 4.
The Canadian rig count decreased by 29 to 236 rigs this week, with oil rigs down 25 to 141 rigs and gas rigs down 4 to 95 rigs. Compared to last year the 236 count is an increase of 30 rigs, with oil rigs down by 7 and gas rigs up by 37. International rigs increased by 1 to 1,350 rigs for the month of May, an increase of 67 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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