2018 Economic Calendar
POWERED BY  econoday logo
U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar   |   

Baker-Hughes Rig Count  
Released On 4/20/2018 1:00:00 PM For wk4/20, 2018
PriorActual
N. Amer. Rig Count1110 1106 
U.S.1008 1013 
Gulf of Mexico16 18 
Canada102 93 

Highlights
The Baker Hughes North American rig count is down 4 rigs in the April 20 week 1,106, pulled down as it has been for several consecutive weeks despite gains in the U.S. by the seasonal "spring thaw" in Canada, when muddy terrain makes moving drilling equipment difficult and environmentally prohibitive. The U.S. rig count is up 5 rigs from last week to 1,013 and is up 156 rigs from last year at this time. The Canadian count is down 9 rigs from last week to 93 and is down 6 rigs compared to last year.

For the U.S. count, rigs classified as drilling for oil are up 5 at 820, gas rigs remain unchanged at 192 and miscellaneous rigs unchanged at 1. For the Canadian count, oil rigs are down 3 at 38 and gas rigs down 6 at 55.

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
 

powered by  [Econoday]