2017 Economic Calendar
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Baker-Hughes Rig Count  
Released On 7/7/2017 1:00:00 PM For wk7/7, 2017
PriorActual
N. Amer. Rig Count1129 1127 
U.S.940 952 
Gulf of Mexico21 21 
Canada189 175 

Highlights
The Baker Hughes North American rig count is down 2 rigs in the July 7 week to 1,127, the first decline in the count in 10 weeks that features a drop in Canadian rigs more than offsetting an increase in the U.S., as lower oil prices may be breaching breakeven levels for some Canadian drillers. The U.S. rig count is up 12 to 952 and is up 512 rigs from last year in this period. The Canadian count is down 14 rigs to 175 and is up 94 rigs from last year. For the U.S. count, rigs classified as drilling for oil are up 7 to 763 while gas rigs are up 5 to 189. For the Canadian count, oil rigs are down 7 to 105 and gas rigs are down 7 to 70.

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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