Steel Markets
Active Oil and Gas Rigs: US Decreases, Canada Increases
Written by Brett Linton
January 9, 2015
According to Baker Hughes data from January 9th, 2015, the U.S rig count for this week is 1,750 rigs exploring for or developing oil or natural gas. This count is a decrease of 61 rigs when compared to last week, with oil rigs down 61 to 1,421 rigs, gas rigs up 1 to 329 rigs, and miscellaneous rigs down 1 to 0 rigs. Compared to last year the 1,750 count is a decrease of 4 rigs, with oil rigs up by 28, gas rigs down by 28, and miscellaneous rigs down by 4.
The Canadian rig count increased by 158 to 366 rigs this week, with oil rigs up 129 to 181 rigs and gas rigs up 29 to 185 rigs. Compared to last year the 366 count is a decrease of 111 rigs, with oil rigs down by 119 and gas rigs up by 8. International rigs decreased by 11 to 1,313 rigs for the month of December, a decrease of 22 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
Read more from Brett LintonLatest in Steel Markets
Hot-rolled coil buyers continue seeking certainty
Steel market participants contend that buyers will remain in “wait-and-see" mode until some market stability is restored.
Latin American steel advocates warn on cheap import flood
Subsidized Chinese steel imports and cheap steel products from Association of Southeast Asian Nations (ASEAN) entering Latin American (LATAM) are threatening the region's steel market.
CRU: Steel prices fall amid global demand weakness
The forceful headwinds bearing down on steel markets across the globe have created demand challenges and sent prices southward. The US, however, challenged the global trend.
Hot-rolled price hikes garner mixed reactions from the market
Several steel market sources say they were blindsided when mills increased spot prices for hot-rolled coils this week.
Steel market participants mull the impact of US/Mexico S232 negotiations
Steel market participants learned that negotiations between the US and Mexico include discussions about Section 232 tariffs on steel and aluminum despite President Trump’s June 3 proclamation increasing the tariffs from 25% to 50% for all steel and aluminum imports—except for those from the UK.