Steel Markets
May 29, 2015
US Rig Count Declining Canada Sees Uptick
Written by Brett Linton
According to Baker Hughes data from May 29, 2015, the U.S rig count for the week was 875 rigs exploring for or developing oil or natural gas. The last time the active U.S. count was this low was back on January 31, 2003 at 873 rigs.
This week’s total rig count is down 10 rigs when compared to last week, with oil rigs down 13 to 646 rigs, gas rigs up 3 to 225 rigs, and miscellaneous rigs unchanged at 4 rigs. Compared to this time last year, the 875 count is down 991 rigs, with oil rigs down by 890, gas rigs down by 101, and miscellaneous rigs unchanged.
