Environment and Energy

US Rig Count Up 8 Last Week

Written by Brett Linton

May 12, 2017

According to Baker Hughes data from May 12, 2017, the US rig count for the week was 885 rigs exploring for or developing oil or natural gas. This is up 8 rigs compared to last week, with oil rigs up 9 to 712 rigs, gas rigs down 1 to 172 rigs, and miscellaneous rigs unchanged at 1 rig. Active US rigs have increased week over week for the past 17 weeks (see the first chart below). Compared to this time last year, the 885 count is up 479 rigs, with oil rigs up 394, gas rigs up 85, and miscellaneous rigs unchanged.

The Canadian rig count decreased by 2 to 80 rigs this past week, with oil rigs up 2 to 29 rigs, gas rigs down 4 to 51 rigs, and miscellaneous rigs unchanged at 0 rigs. Active Canadian rigs have consecutively declined week over week for the past 11 weeks, following the seasonal trend seen in previous years (see the second chart below). Compared to last year the 80 count is up 37 rigs, with oil rigs up 13, gas rigs up 25, and miscellaneous rigs down 1.

International rigs increased by 13 to 956 rigs for the month of April, an increase of 10 rigs from the same month one year ago. For a history of both the US and Canadian rig count, visit the Rig Count page on 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

Brett Linton is a senior analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.

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