2017 Economic Calendar
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Baker-Hughes Rig Count  
Released On 8/4/2017 1:00:00 PM For wk8/4, 2017
PriorActual
N. Amer. Rig Count1178 1171 
U.S.958 954 
Gulf of Mexico23 16 
Canada220 217 

Highlights
The Baker Hughes North American rig count is down 7 rigs in the August 4 week to 1,171, interrupting its upward climb for only the second time in the last 14 weeks. The U.S. count is down 4 rigs to 954 but is up 490 rigs from the same period last year. The Canadian count is down 3 rigs to 217 but is up 95 rigs from last year.

For the U.S. count, rigs classified as drilling for oil are down 1 rig to 765 and gas rigs down 3 to 189. For the Canadian count, oil rigs are down 5 rigs to 124 but gas rigs are up 2 to 93.

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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