Environment and Energy

March 4, 2022
U.S. Drill Rig Counts Flat Last Week, Canadian Rigs Down
Written by Brett Linton
The number of active oil and gas drill rigs in the U.S. and Canada was flat or fell this week after gains in prior weeks, according to recent data released by oilfield services company Baker Hughes. The active drill rig count is important to the steel industry because it is a leading indicator of oil country tubular goods (OCTG) demand.
The number of active U.S. rigs was flat at 650 rigs, with oil rigs down 3 and gas rigs up 3. Compared to this time last year, this week’s count is up 247 rigs, with oil rigs up 209 and gas rigs up 38. See the first graph below for a history of active U.S. rig counts.


