2017 Economic Calendar
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Baker-Hughes Rig Count  
Released On 3/3/2017 1:00:00 PM For wk3/3, 2017
PriorActual
N. Amer. Rig Count1095 1091 
U.S.754 756 
Gulf of Mexico17 18 
Canada341 335 

Highlights
The Baker Hughes North American rig count is down 4 in the March 3 week to 1,091. The U.S. rig count is up 2 to 756 and is up 267 rigs from last year. The Canadian count is down 6 from last week to 335, but compared to last year is up 206.

For the U.S. count, rigs classified as drilling for oil are up 7 from last week to 609, gas rigs are down 5 to 146 and miscellaneous rigs are unchanged at 1. Canadian oil rigs are down 9 to 197 but gas rigs are up 3 to 138.

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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