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    Environment and Energy

    Oil & Gas Rig Counts Down 578 YOY

    Written by Brett Linton


    According to Baker Hughes data from April 11, 2016, the U.S rig count for the week was 450 rigs exploring for or developing oil or natural gas. This is a decrease of 14 rigs when compared to last week, with oil rigs down 10 to 362 rigs, gas rigs down 4 to 88 rigs, and miscellaneous rigs unchanged at 0 rigs. Compared to this time last year, the 450 count is down 578 rigs, with oil rigs down 440, gas rigs down 134, and miscellaneous rigs down 4.

    The Canadian rig count decreased by 6 to 49 rigs this past week, with oil rigs unchanged at 11 rigs and gas rigs down 6 to 38 rigs. Compared to last year the 49 count is a decrease of 51 rigs, with oil rigs down 9 and gas rigs down 42. International rigs decreased by 27 to 1,018 rigs for the month of February, a decrease of 257 rigs from the same month one year ago. For a history of both the US and Canadian rig count, visit the Steel Market Update website here.

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