Environment and Energy
Active Gas & Oil Rig Counts Decline in US and Canada
Written by Brett Linton
April 26, 2019
The U.S. active rotary rig count, an indicator of oil country tubular goods demand, decreased this week, according to oilfield services company Baker Hughes. The number of active U.S. rigs fell by 21 to 991, with oil rigs down 20 and gas rigs down 1. Compared to this time last year, the 991 count is down 30 rigs, with oil rigs down 20, gas rigs down 9, and miscellaneous rigs down 1. See the first graph below for a history of active U.S. rig counts.
The Canadian rig count declined again this week by 3 rigs to 63 rigs, with oil rigs unchanged and gas rigs down 3. Compared to last year, the 63 count is down 22 rigs, with oil rigs down 14 and gas rigs down 8. See the second graph below for a history of active Canadian rig counts.
International rigs increased by 12 to 1,039 rigs for the month of March, an increase of 67 rigs 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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