2018 Economic Calendar
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Baker-Hughes Rig Count  
Released On 8/24/2018 1:00:00 PM For wk8/24, 2018
PriorActual
N. Amer. Rig Count1269 1273 
U.S.1057 1044 
Gulf of Mexico19 16 
Canada212 229 

Highlights
The Baker Hughes North American rig count is up 4 rigs in the August 24 week to 1,273, as a sizable decline in the U.S. was more than offset by a larger increase in Canada. The U.S. rig count is down 13 rigs from last week to 1,044 and is up 104 rigs from last year at this time. The Canadian count is up 17 rigs from last week to 229 and compared to last year is up 12 rigs.

For the U.S. count, rigs classified as drilling for oil are down 9 at 860, gas rigs are down 4 at 182 and miscellaneous rigs remain unchanged at 2. For the Canadian count, oil rigs are up 12 at 153 and gas rigs are up 5 at 76.

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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