Environment and Energy
Active Gas & Oil Rig Counts Flat for the Week, Down for the Year
Written by Brett Linton
May 21, 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 1 to 987, with oil rigs down 3 and gas rigs up 2. Compared to this time last year, the 987 count is down 59 rigs, with oil rigs down 42, gas rigs down 15, and miscellaneous rigs down 2. See the first graph below for a history of active U.S. rig counts.
The Canadian rig count remained the same at 63 rigs. Compared to last year, the 63 count is down 20 rigs, with oil rigs down 16 and gas rigs down 4. See the second graph below for a history of active Canadian rig counts.
International rigs increased by 23 to 1,062 rigs for the month of April, an increase of 84 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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