Steel Markets
May 2, 2014
Active Oil and Gas Rig Counts: Down Over Last Week but Up Over Last Year
Written by Brett Linton
According to Baker Hughes data from May 2nd, 2014, the U.S rig count for this week is 1,854 rigs exploring for or developing oil or natural gas. This count is a decrease of 7 rigs when compared to last week, with oil rigs down 7 to 1,527 rigs, gas rigs unchanged at 323 rigs, and miscellaneous rigs unchanged at 4 rigs. Compared to last year the 1,854 count is an increase of 90 rigs, with oil rigs up by 124, gas rigs down by 31, and miscellaneous rigs down by 3.
The Canadian rig count decreased by 5 to 163 rigs this week, following the seasonal trend associated with Canadian drill rigs. Oil rigs are down 2 to 67 rigs and gas rigs down 3 to 96 rigs. Compared to last year the 163 count is an increase of 42 rigs, with oil rigs up by 1 and gas rigs up by 41. International rigs increased by 4 to 1,345 rigs for the month of March, an increase of 77 rigs from the same month one year ago. For a history of both the US and Canadian rig count click here.
