Rig count update: US count rebounds, Canada's slips

There were 590 drilling rigs operating in the US in the week ended Sept. 14, eight more than in the week before. Total oil rigs rose by five to 488, while gas rigs moved up by three to a total of 97. The miscellaneous rig count was unchanged at five.

There were 51 fewer active US rigs last week compared to the same week last year, with 27 fewer oil rigs and 24 fewer gas rigs.

Canada rigs

In Canada, there were 218 drilling rigs active last week, a drop of two from the prior week. Active oil rigs declined by two to 150, and gas and miscellaneous rigs held steady at 67 and one, respectively.

There are currently 28 more active rigs operating in Canada compared to one year ago, with 31 more oil rigs, four fewer gas rigs, and one additional miscellaneous rig.

International rig count

The international rig count is a monthly figure updated at the beginning of each month. The total number of active rigs for the month of August fell to 931, two less than the July count and 21 fewer than levels one year prior.

The Baker Hughes rig count is important to the steel industry because it is a leading indicator of demand for oil country tubular goods (OCTG), a key end market for steel sheet. A rotary rig rotates the drill pipe from the surface to either drill a new well or sidetrack an existing one. For a history of the US and Canadian rig counts, visit the rig count page on our website.