Environment and Energy

February 15, 2020
Active Gas & Oil Rig Counts in February
Written by Brett Linton
U.S active rig counts remained steady this past week, while Canadian rigs decreased, according to oilfield services company Baker Hughes. The active drill rigs count is important to the steel industry because it is a leading indicator of oil country tubular goods demand.
The number of active U.S. rigs was unchanged at 790, with oil rigs up 2, gas rigs down 1, and miscellaneous rigs down 1. Compared to this time last year, the 790 count is down 261 rigs, with oil rigs down 179, gas rigs down 84, and miscellaneous rigs up 2. See the first graph below for a history of active U.S. rig counts.


