Steel Markets
May 22, 2015
Oil & Natural Gas Rig Counts Remain Low
Written by Brett Linton
According to Baker Hughes data from May 22, 2015, the U.S rig count for the week was 885 rigs exploring for or developing oil or natural gas. The last time the active U.S. count was this low was back on June 12, 2009 at 876 rigs.
This week’s total rig count is down 3 rigs when compared to last week, with oil rigs down 1 to 659 rigs, gas rigs down 1 to 222 rigs, and miscellaneous rigs down 1 to 4 rigs. Compared to this time last year, the 885 count is down 972 rigs, with oil rigs down by 869, gas rigs down by 103, and miscellaneous rigs unchanged.
