Steel Markets
Active Oil and Gas Rigs Increase
Written by Brett Linton
July 25, 2014
According to Baker Hughes data from July 25th, 2014, the U.S rig count for this week is 1,883 rigs exploring for or developing oil or natural gas. This count is an increase of 12 rigs when compared to last week, with oil rigs up 8 to 1,562 rigs, gas rigs up 3 to 318 rigs, and miscellaneous rigs up 1 to 3 rigs. Compared to last year the 1,883 count is an increase of 107 rigs, with oil rigs up by 161, gas rigs down by 51, and miscellaneous rigs down by 3.
The Canadian rig count increased by 14 to 395 rigs this week, with oil rigs up 12 to 238 rigs and gas rigs up 2 to 157 rigs. Compared to last year the 395 count is an increase of 66 rigs, with oil rigs up by 20 and gas rigs up by 46. International rigs decreased by 6 to 1,344 rigs for the month of June, an increase of 11 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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