2017 Economic Calendar
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Baker-Hughes Rig Count  
Released On 2/3/2017 1:00:00 PM For wk2/3, 2017
PriorActual
N. Amer. Rig Count1057 1072 
U.S.712 729 
Gulf of Mexico20 21 
Canada345 343 

Highlights
The Baker Hughes North American rig count is up 15 in the February 3 week to 1,072. The U.S. rig count is up 17 to 729 and is up 158 rigs from last year. The Canadian count is down 2 from last week to 343, and compared to last year is up 101.

For the U.S. count, rigs classified as drilling for oil are up 17 to 583, gas rigs are unchanged at 145 and miscellaneous rigs are unchanged at 1. Canadian oil rigs down 3 to 197, gas rigs are up 1 to 146 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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