2018 Economic Calendar
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Baker-Hughes Rig Count  
Released On 4/6/2018 1:00:00 PM For wk4/6, 2018
PriorActual
N. Amer. Rig Count1127 1114 
U.S.993 1003 
Gulf of Mexico12 12 
Canada134 111 

Highlights
The Baker Hughes North American rig count is down 13 rigs in the week to 1,114, as a large seasonal drop in the volatile Canadian count once again overshadowed a U.S. increase. The U.S. rig count is up 10 rigs from last week to 1,003 and is up 164 rigs from last year at this time. The Canadian count is down 23 rigs from last week to 111 and is down 21 rigs compared to last year.

For the U.S. count, rigs classified as drilling for oil are up 11 at 808, gas rigs are unchanged at 194 and miscellaneous rigs are down 1 at 1. For the Canadian count, oil rigs are down 23 at 48 and gas rigs are unchanged at 63.

The Canadian count usually declines dramatically with the onset of the "spring thaw" when muddy terrain makes moving drilling equipment difficult and environmentally prohibitive.

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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