2018 Economic Calendar
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Baker-Hughes Rig Count  
Released On 3/23/2018 1:00:00 PM For wk3/23, 2018
N. Amer. Rig Count1209 1156 
U.S.990 995 
Gulf of Mexico13 13 
Canada219 161 

The Baker Hughes North American rig count is down 53 rigs in the March 23 week to 1,156, as in a replay of last week, a weather-related seasonal drop in the volatile Canadian count easily overshadowed a U.S. increase. The U.S. rig count is up 5 rigs from last week to 995 and is up 186 rigs from last year at this time. The Canadian count is down 58 rigs from last week to 161 and is down 24 rigs compared to last year.

For the U.S. count, rigs classified as drilling for oil are up 4 at 804, gas rigs are up 1 at 190, and miscellaneous rigs are unchanged at 1. For the Canadian count, oil rigs are down 51 at 93 and gas rigs are down 7 at 68.

The Canadian count usually declines dramatically with the onset of the "spring thaw" when muddy terrain makes moving drilling equipment difficult and environmentally prohibitive.

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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