Steel Markets
March 28, 2014
US and Canadian Rig Counts: Mixed Results
Written by Brett Linton
According to Baker Hughes data from March 28th, 2014, the U.S rig count for this week is 1,809 rigs exploring for or developing oil or natural gas. This count is an increase of 6 rigs when compared to last week, with oil rigs up 14 to 1,487 rigs, gas rigs down 8 to 318 rigs, and miscellaneous rigs unchanged at 4 rigs. Compared to last year the 1,809 count is an increase of 61 rigs, with oil rigs up by 133, gas rigs down by 71, and miscellaneous rigs down by 1.
The Canadian rig count decreased by 91 to 298 rigs this week, following the seasonal trend associated with Canadian drill rigs. Oil rigs are down 55 to 155 rigs and gas rigs down 36 to 143 rigs. Compared to last year the 298 count is an increase of 52 rigs, with oil rigs up by 8 and gas rigs up by 44. International rigs increased by 16 to 1,341 rigs for the month of February, an increase of 66 rigs from the same month one year ago. For a history of both the US and Canadian rig count click here.
