U.S. Rig Count Up Nominally, Canada Slips Again

August 10, 2012 Posted by Steel Market Intelligence

The number of active oil and natural gas rigs in the United States rose for the second straight week to 1,931 for the week ending August 10, 2012, up 0.1% from the prior week but down 1.4% from the year-ago level.

The highest weekly rig count in the United States since 1940 was recorded on December 28, 1981, at 4,530; the lowest was recorded on April 23, 1999, at 488.

The number of rigs in Canada fell again this week by 1.3% to 299 compared with 303 last week and down 35.6% from the year-ago level.

The highest rig count forCanadawas 727 on February 3, 2006; the lowest was 29, recorded on April 24, 1992.

Source: Baker Hughes Inc.

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