Environment and Energy
October 7, 2019
Mixed Start for Rig Count in October
Written by Brett Linton
The U.S. active rotary rig count, an indicator of oil country tubular goods demand, declined last week, according to oilfield services company Baker Hughes. The number of active U.S. rigs fell by 5 to 855, with oil rigs down 3, gas rigs down 2, and miscellaneous rigs unchanged. Compared to this time last year, the 855 count is down 197 rigs, with oil rigs down 151, gas rigs down 45, and miscellaneous rigs down 1. See the first graph below for a history of active U.S. rig counts.
The Canadian rig count increased by 17 last week to 144 rigs, with oil rigs up 17 and gas rigs unchanged. Compared to last year, the 144 count is down 38 rigs, with oil rigs down 14 and gas rigs down 24. See the second graph below for a history of active Canadian rig counts.
