U.S. Rig Count Remains Steady, Canadian Rig Count Climbs from Three-Year Low

May 20, 2013 Posted by Steel Market Intelligence

The number of active oil and natural gas rigs in the United States remained at 1,769 for the week ending May 17, 2013, but was still 10.9% below the year-ago level of 1,986.

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 rose 4.2%, halting the eleven-week downslide and rising from the three-year low of 118 recorded last week.  The rig count is at the same level as a year ago.

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

Source: Baker Hughes Inc.

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