Active Drilling Rigs: US Count Steady, Canada Rising

The number of total active drilling rigs in the US remained steady this week, while Canadian rigs increased, according to data from oilfield services company Baker Hughes. The number of active oil and gas drilling rigs in operation is important to the steel industry because it is a leading indicator of oil country tubular goods (OCTG) demand.

The number of active US rigs remained unchanged at 727 rigs, with oil rigs, gas rigs, and miscellaneous rig counts all unchanged from last week. Compared to this time last year, this week’s count is up 271 rigs, with oil rigs up 215, gas rigs up 54, and and miscellaneous rigs up two. See the first graph below for a history of active US rig counts.

Brett Linton

Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.