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Baker-Hughes Rig Count  
Released On 10/13/2017 1:00:00 PM For wk10/13, 2017
PriorActual
N. Amer. Rig Count1145 1140 
U.S.936 928 
Gulf of Mexico22 20 
Canada209 212 

Highlights
The Baker Hughes North American rig count is down 5 rigs in the October 13 week to 1,140. The U.S. rig count is down 8 rigs at 928 but is up 389 rigs from last year at this time. The Canadian count is up 3 rigs at 212 and is up 47 rigs from last year.

For the U.S. count, rigs classified as drilling for oil are down 5 rigs at 743, gas rigs are down 2 at 185, and miscellaneous rigs are down 1 at 0. For the Canadian count, oil rigs remain unchanged at 112 and gas rigs are up 3 at 100.

The third consecutive weekly decline shows the rig count again surprisingly declining in areas impacted by Harvey, contrary to expectations of the rebooting of drilling operations that were interrupted by the hurricane. The rig count in Texas was down 4 rigs at 444, Louisiana rigs are down 1 rig at 65, and Gulf of Mexico rigs are down 2 at 20.

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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