Environment and Energy
Rig Counts Increase in US and Canada
Written by Brett Linton
October 21, 2016
According to Baker Hughes data from October 21, 2016, the U.S rig count for the week was 553 rigs exploring for or developing oil or natural gas. This is up 14 rigs compared to last week, with oil rigs up 11 to 443 rigs, gas rigs up 3 to 108 rigs, and miscellaneous rigs unchanged at 2 rigs. Compared to this time last year, the 553 count is down 234 rigs, with oil rigs down 151, gas rigs down 85, and miscellaneous rigs up 2.
The Canadian rig count decreased by 22 to 143 rigs this past week, with oil rigs down 21 to 69 rigs, gas rigs down 1 to 74 rigs, and miscellaneous rigs unchanged at 0 rigs. Compared to last year the 143 count is a decrease of 47 rigs, with oil rigs down 15, gas rigs down 32, and miscellaneous rigs unchanged. International rigs decreased by 3 to 934 rigs for the month of September, a decrease of 206 rigs from the same month one year ago. For a history of both the US and Canadian rig count, visit the Steel Market Update website 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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