2017 Economic Calendar
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Baker-Hughes Rig Count  
Released On 5/26/2017 1:00:00 PM For wk5/26, 2017
PriorActual
N. Amer. Rig Count986 1001 
U.S.901 908 
Gulf of Mexico23 23 
Canada85 93 

Highlights
The Baker Hughes North American rig count is up 15 in the May 26 week to 1,001, posting the fourth weekly increase in a row. The U.S. rig count is up 7 to 908 and is up 504 rigs from last year. The Canadian count is up 8 from last week to 93, and compared to last year is up 50 rigs.

The Canadian count registered the second weekly gain after a precipitous decline during the Spring Breakup, which makes Canadian rig operations nearly impossible every year from around the beginning of March to the end of May.

For the U.S. count, rigs classified as drilling for oil are up 2 to 722, gas rigs are up 5 to 185, and miscellaneous rigs are unchanged at 1. For the Canadian count, oil rigs are up 4 to 40 and gas rigs are also up 4 to 53.

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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