Market Data
January 4, 2019
Active Gas & Oil Rig Counts: Mixed Start to 2019
Written by Brett Linton
The U.S. active rotary rig count, an indicator of oil country tubular goods demand, declined week over week, according to oilfield services company Baker Hughes. The number of active U.S. rigs fell by 8 to 1,075, with oil rigs down 8 to 877 rigs, gas rigs unchanged at 198 rigs, and miscellaneous rigs unchanged at 0 rigs. Compared to this time last year, the 1,075 count is up 151 rigs, with oil rigs up 135, gas rigs up 16, and miscellaneous rigs unchanged. See the first graph below for a history of active U.S. rig counts.
The Canadian rig count rose by 6 to 76 rigs, in line with typical seasonal swings, with oil rigs up 5 to 20 rigs, gas rigs up 1 to 56 rigs, and miscellaneous rigs unchanged at 0. Compared to last year, the 76 count is down 98 rigs, with oil rigs down 78, gas rigs up 20, and miscellaneous rigs unchanged. See the second graph below for a history of active Canadian rig counts.
