2016 Economic Calendar
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Baker-Hughes Rig Count  
Released On 11/18/2016 1:00:00 PM For wk11/18, 2016
PriorActual
N. Amer. Rig Count744 772 
U.S.568 588 
Gulf of Mexico21 23 
Canada176 184 

Highlights
The Baker Hughes North American rig count is up 28 in the November 18 week to 772. The U.S. rig count is up 20 to 588 but is down 169 rigs from last year. The Canadian count is up 8 from last week at 184, and compared to last year is up 18.

For the U.S. count, rigs classified as drilling for oil are up 19 rigs to 471, gas rigs are up 1 rig to 116, and miscellaneous rigs are unchanged at 1 rig. Canadian oil rigs are up 11 to 100, gas rigs are down 3 to 84, and miscellaneous rigs remain at 0.

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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