Environment and Energy
US Oil Rig Counts Continue to Rise
Written by Brett Linton
June 9, 2017
According to Baker Hughes data from June 9, 2017, the US rig count for the week was 927 rigs exploring for or developing oil or natural gas. This is up 11 rigs compared to last week, with oil rigs up 8 to 741 rigs, gas rigs up 3 to 185 rigs, and miscellaneous rigs unchanged at 1 rig. Active US rigs have increased week over week for the past 21 weeks. Compared to this time last year, the 927 count is up 513 rigs, with oil rigs up 414, gas rigs up 100, and miscellaneous rigs unchanged.
The Canadian rig count jumped by 33 to 132 rigs this past week, with oil rigs up 23 to 74 rigs, gas rigs up 10 to 58 rigs, and miscellaneous rigs unchanged at 0 rigs. Active Canadian rigs have increased week over week for the last 4 weeks, following an 11 week period of consecutively weekly declines. Compared to last year the 132 count is up 67 rigs, with oil rigs up 45, gas rigs up 22, and miscellaneous rigs unchanged.
International rigs increased by 1 to 957 rigs for the month of May, an increase of 2 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
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