2018 Economic Calendar
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Baker-Hughes Rig Count  
Released On 8/10/2018 1:00:00 PM For wk8/10, 2018
PriorActual
N. Amer. Rig Count1267 1266 
U.S.1044 1057 
Gulf of Mexico16 18 
Canada223 209 

Highlights
The Baker Hughes North American rig count is down 1 rig in the August 10 week to 1,266, as a large drop in Canada offset a similarly large increase in U.S. rigs. The U.S. rig count is up 13 rigs from last week to 1,057 and is up 108 rigs from last year at this time. The Canadian count is down 14 rigs from last week to 209 and compared to last year is down 11 rigs.

For the U.S. count, rigs classified as drilling for oil are up 10 at 869, gas rigs are up 3 at 186 and miscellaneous rigs remain unchanged at 2. For the Canadian count, oil rigs are down 12 at 140 and gas rigs are down 2 at 69.

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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