Steel Markets
Active Oil and Gas Rigs Start Strong in July
Written by Brett Linton
July 7, 2014
According to Baker Hughes data from July 3rd, 2014, the U.S rig count for this week is 1,874 rigs exploring for or developing oil or natural gas. This count is an increase of 1 rig when compared to last week, with oil rigs up 4 to 1,562 rigs, gas rigs down 3 to 311 rigs, and miscellaneous rigs unchanged at 1 rig. Compared to last year the 1,874 count is an increase of 117 rigs, with oil rigs up by 167, gas rigs down by 44, and miscellaneous rigs down by 6.
The Canadian rig count increased by 73 to 309 rigs this week, with oil rigs up 49 to 190 rigs and gas rigs up 24 to 119 rigs. Compared to last year the 309 count is an increase of 95 rigs, with oil rigs up by 38 and gas rigs up by 57. 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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