Environment and Energy

July 29, 2016
Gas & Oil Rig Counts for US Up 1, Still Down 411 YOY
Written by Brett Linton
According to Baker Hughes data from July 29, 2016, the U.S rig count for the week was 463 rigs exploring for or developing oil or natural gas. This is up 1 rig compared to last week, with oil rigs up 3 to 374 rigs, gas rigs down 2 to 86 rigs, and miscellaneous rigs unchanged at 3 rigs. Compared to this time last year, the 463 count is down 411 rigs, with oil rigs down 290, gas rigs down 123, and miscellaneous rigs up 2.
The Canadian rig count increased by 17 to 119 rigs this past week, with oil rigs up 12 to 60 rigs, gas rigs up 5 to 58 rigs, and miscellaneous rigs unchanged at 1 rig. Compared to last year the 119 count is a decrease of 96 rigs, with oil rigs down 52, gas rigs down 45, and miscellaneous rigs up 1. International rigs decreased by 28 to 927 rigs for the month of June, a decrease of 219 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.


