Environment and Energy
Active Gas & Oil Rig Counts Looking Positive
Written by Brett Linton
July 28, 2018
The U.S. active rig count, an indicator of oil country tubular goods demand, increased this week, according to oilfield services company Baker Hughes. The number of active U.S. rigs rose by 2 to 1,048, with oil rigs up 3 to 861 rigs, gas rigs down 1 to 186 rigs, and miscellaneous rigs unchanged at 1 rig. Compared to this time last year, the 1,048 count is up 90 rigs, with oil rigs up 95, gas rigs down 6, and miscellaneous rigs up 1. See the first graph below for a history of active U.S. rig counts.
The Canadian rig count rose by 12 to 223 rigs, with oil rigs up 12 to 154 rigs, gas rigs unchanged at 69 rigs, and miscellaneous rigs unchanged at 0. Compared to last year, the 223 count is up 3 rigs, with oil rigs up 25, gas rigs down 22, and miscellaneous rigs unchanged. See the second graph below for a history of active Canadian rig counts.
International rigs decreased by 8 to 959 rigs for the month of June, a decrease of 1 rig from the same month one year ago. For a history of both the U.S. 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 sidetrack 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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