2017 Economic Calendar
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Baker-Hughes Rig Count  
Released On 9/1/2017 1:00:00 PM For wk9/1, 2017
PriorActual
N. Amer. Rig Count1157 1144 
U.S.940 943 
Gulf of Mexico17 16 
Canada217 201 

Highlights
The Baker Hughes North American rig count is down 13 rigs in the September 1 week to 1,144, the fifth consecutive weekly drop in a decline that halted a long string of weekly increases in the previous months. Despite expectations that the number of Texas rigs would fall significantly due to the devastating impact on the region by Hurricane Harvey, Texas rigs are down by only 1 rig to 455, while the overall U.S. rig count is up 3 rigs on the week to 943 and is up 446 rigs from last year at this time. It was a sharp 16-rig decline in Canada that overshadowed a U.S. increase this week, putting the volatile Canadian rig count at 201, which is 64 rigs above the level a year ago.

For the U.S. count, rigs classified as drilling for oil are unchanged on the week at 759 while gas rigs are up 3 to 183. For the Canadian count, oil rigs are down 13 to 102 while gas rigs are down 3 to 99.

Definition
The Baker Hughes North American rig count tracks weekly changes in the number of active operating oil & gas rigs. Used for drilling wellbores for wells that may eventually produce oil or gas, active rigs are essential for the exploration and development of oil and gas fields. Rigs that are not active are not counted. Components in the data are the United States and Canada with a separate count for the Gulf of Mexico (which is a subset of the U.S. total). The count includes only rigs that are significant users of oilfield services and supplies.  Why Investors Care
 

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