2017 Economic Calendar
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Baker-Hughes Rig Count  
Released On 7/14/2017 1:00:00 PM For wk7/14, 2017
PriorActual
N. Amer. Rig Count1127 1143 
U.S.952 952 
Gulf of Mexico21 21 
Canada175 191 

Highlights
The Baker Hughes North American rig count is up 16 rigs in the July 14 week to 1,143, resuming its climb after last week's posting of a decline for the first time in 10 weeks, and just as last week, a big swing in the Canadian count, but up, overshadowed any change in the U.S. The US rig is in fact unchanged in the week at 952 but is up 505 rigs from last year at this time. The Canadian count is up 16 rigs to 191 and up 96 rigs from last year.

For the U.S. count, rigs classified as drilling for oil are up 2 to 765 while gas rigs are down 2 to 187. For the Canadian count, oil rigs are up 1 to 106 and gas rigs are up 15 to 85.

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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