2018 Economic Calendar
POWERED BY  econoday logo
U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar   |   

Baker-Hughes Rig Count  
Released On 5/4/2018 1:00:00 PM For wk5/4, 2018
PriorActual
N. Amer. Rig Count1106 1118 
U.S.1021 1032 
Gulf of Mexico18 19 
Canada85 86 

Highlights
The Baker Hughes North American rig count is up 12 rigs in the May 4 week to 1,118. The U.S. rig count is up 11 rigs from last week to 1,032 and is up 155 rigs from last year at this time. The Canadian count is up 1 rig from last week to 86 and is up 4 rigs compared to last year.

For the U.S. count, rigs classified as drilling for oil are up 9 at 834, gas rigs are up 1 at 196, and miscellaneous rigs are up 1 at 2. For the Canadian count, rigs classified as drilling for oil are up 4 at 37 but gas rigs are down 3 at 49.

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
 

powered by  [Econoday]