Active rig counts stable in US and Canada

US rigs

There were 586 drilling rigs operating in the US through Oct. 11, one more than the week prior. Oil rigs counts were up by two to 481, gas rigs fell by one to 101, and miscellaneous rigs were unchanged at four. Last week, there were 36 less US rigs operating compared to the same week last year, with 20 fewer oil rigs and 16 less gas rigs.

Canada rigs

There were 219 active Canadian drilling rigs last week, four less than the previous week (when activity reached a seven-month high). Compared to counts one week prior, oil rigs declined by three to 154, gas rigs rose by two to 65, and miscellaneous rigs were down by three to zero. There are currently 26 more active Canadian rigs than a year ago, with 38 more oil rigs, 11 fewer gas rigs, and one less 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 September rose to 947, up 16 from the August count and seven more 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.