Steel Markets
May 23, 2014
Active Oil and Gas Rig Counts: YOY Figures Remain Strong
Written by Brett Linton
According to Baker Hughes data from May 23rd, 2014, the U.S rig count for this week is 1,857 rigs exploring for or developing oil or natural gas. This count is a decrease of 4 rigs when compared to last week, with oil rigs down 3 to 1,528 rigs, gas rigs down 1 to 325 rigs, and miscellaneous rigs unchanged at 4 rigs. Compared to last year the 1,857 count is an increase of 95 rigs, with oil rigs up by 126, gas rigs down by 29, and miscellaneous rigs down by 2.
The Canadian rig count increased by 1 to 154 rigs this week, with oil rigs up 3 to 65 rigs and gas rigs down 2 to 89 rigs. Compared to last year the 154 count is an increase of 23 rigs, with oil rigs down by 10 and gas rigs up by 33. International rigs increased by 4 to 1,349 rigs for the month of April, an increase of 48 rigs from the same month one year ago. For a history of both the US and Canadian rig count click here.
