2017 Economic Calendar
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Baker-Hughes Rig Count  
Released On 12/29/2017 1:00:00 PM For wk12/29, 2017
PriorActual
N. Amer. Rig Count1141 1065 
U.S.931 929 
Gulf of Mexico19 18 
Canada210 136 

Highlights
The Baker Hughes North American rig count plummeted by an outsized 76 rigs in the December 29 week to 1,065, dominated for the second week in a row by a seasonal weather-related decline in Canada. The U.S. rig count is down 2 rigs from last week to 929 and is up 271 rigs from last year at this time. The Canadian count is down 74 rigs from last week to 136 and is down 21 rigs compared to last year.

For the U.S. count, rigs classified as drilling for oil remained unchanged at 747 while gas rigs are down 2 rigs at 182. For the Canadian count, oil rigs are down 58 at 62 and gas rigs are down 16 at 74.

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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