2018 Economic Calendar
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Baker-Hughes Rig Count  
Released On 5/11/2018 1:00:00 PM For wk5/11, 2018
PriorActual
N. Amer. Rig Count1118 1124 
U.S.1032 1045 
Gulf of Mexico19 20 
Canada86 79 

Highlights
The Baker Hughes North American rig count is up 6 rigs in the May 11 week to 1,124, as a sizable U.S. increase was partly offset by the continuing seasonal "spring thaw" decline in the Canadian count. The U.S. rig count is up 13 rigs from last week 1,045 and is up 160 rigs from last year at this time. The Canadian count is down 7 rigs from last week to 79 and is down 1 rig compared to last year.

For the U.S. count, rigs classified as drilling for oil are up 10 at 844, gas rigs are up 3 at 199, and miscellaneous rigs remain unchanged at 2. For the Canadian count, rigs classified as drilling for oil are down 5 at 32 and gas rigs are down 2 at 47.

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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