U.S. Rig Count Increases Slightly, Canadian Count Decreases for Second Week

September 16, 2013 Posted by Steel Market Intelligence

The number of active oil and natural gas rigs in the United States increased 0.1% from 1,767 to 1,768 for the week ending September 13, 2013, climbing slightly from last week’s two-month low.  The count is also some 5.2% below the year-ago level of 1,864.

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 decreased 2.3% from 389 to 380 this week, falling for a second week after a sixteen-week climb.  Despite the decrease, the count is still some 7.3% above the year-ago level of 354.

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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