Steel Markets
Active Gas & Oil Rigs Down Across the Board
Written by Brett Linton
January 23, 2015
According to Baker Hughes data from January 23rd, 2015, the U.S rig count for this week is 1,633 rigs exploring for or developing oil or natural gas. This count is a decrease of 43 rigs when compared to last week, with oil rigs down 49 to 1,317 rigs, gas rigs up 6 to 316 rigs, and miscellaneous rigs unchanged at 0 rigs. Compared to last year the 1,633 count is a decrease of 144 rigs, with oil rigs down by 99, gas rigs down by 40, and miscellaneous rigs down by 5.
The Canadian rig count decreased by 8 to 432 rigs this week, with oil rigs down 11 to 223 rigs and gas rigs up 3 to 209 rigs. Compared to last year the 432 count is a decrease of 158 rigs, with oil rigs down by 171 and gas rigs up by 13. 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
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