2017 Economic Calendar
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Baker-Hughes Rig Count  
Released On 2/17/2017 1:00:00 PM For wk2/17, 2017
PriorActual
N. Amer. Rig Count1093 1082 
U.S.741 751 
Gulf of Mexico20 17 
Canada352 331 

Highlights
The Baker Hughes North American rig count is down 11 in the February 17 week to 1,082. The U.S. rig count is up 10 to 751 and is up 237 rigs from last year. The Canadian count is down 21 from last week to 331, and compared to last year is up 125.

For the U.S. count, rigs classified as drilling for oil are up 6 to 597, gas rigs are up 4 to 153 and miscellaneous rigs are unchanged at 1. Canadian oil rigs are down 13 to 194, and gas rigs are down 8 to 137.

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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