2017 Economic Calendar
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Baker-Hughes Rig Count  
Released On 3/17/2017 1:00:00 PM For wk3/17, 2017
PriorActual
N. Amer. Rig Count1083 1065 
U.S.768 789 
Gulf of Mexico20 19 
Canada315 276 

Highlights
The Baker Hughes North American rig count is down 18 in the March 17 week to 1,065. The U.S. rig count is up 21 to 789 and is up 313 rigs from last year. The Canadian count is down 39 rigs from last week to 276, but compared to last year is up 207.

For the U.S. count, rigs classified as drilling for oil are up 14 to 631, gas rigs are up 6 to 157 and miscellaneous rigs are up 1 to 1. For the Canadian count, oil rigs are down 31 to 149, gas rigs down 10 to 125 and miscellaneous rigs are up 2 to 2.

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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