Posts Tagged: ‘OCTG’

U.S. Rig Count Climbs to Seventeen-Month High, Canadian Rig Count Falls to Nine-Month Low

April 7, 2014 Posted by Steel Market Intelligence

The number of active oil and natural gas rigs in the United States increased 0.5% to 1,818 for the week ending April 4, 2014, up from 1,809 last week and reaching the highest count since October 26, 2012.  The count is some 4.6% above the year-ago level of 1,738.

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 to a nine-month low of 235 this week, dropping 21.1% from 298 last week and decreasing 88.3% over the now-six-week downward spiral.  Despite the fall, the count is some 14.1% above the year-ago level of 206.

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.

U.S. Rig Count Decreases Slightly, Canadian Rig Count Falls Further to Eleven-Week Low

March 25, 2014 Posted by Steel Market Intelligence

The number of active oil and natural gas rigs in the United States decreased 0.3% from last week’s sixteen-month high of 1,809 to 1,803 for the week ending March 21, 2014.  The count is still some 3.3% above the year-ago level of 1,746.

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 for the fourth consecutive week, dropping 25.5% from 522 last week to 389 this week, which is an eleven-week low.  Despite the fall, the count is some 15.4% above the year-ago level of 337.

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.

U.S. Rig Count Jumps to Sixteen-Month High, Canadian Rig Count Drops to Two-Month Low

March 17, 2014 Posted by Steel Market Intelligence

The number of active oil and natural gas rigs in the United States increased 0.9 % from 1,792 last week to 1,809 for the week ending March 14, 2014, reaching the highest count since November 30, 2012.  The count is some 1.9% above the year-ago level of 1,776.

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 for the third consecutive week, down 11.1% from 587 last week to 522 this week, dropping to a two-month low.  Despite the fall, the count is some 16.7% above the year-ago level of 503.

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.

U.S. Rig Count Jumps to Fifteen-Month High, Canadian Rig Count Decreases Again

March 10, 2014 Posted by Steel Market Intelligence

The number of active oil and natural gas rigs in the United States increased 1.3 % from 1,769 last week to 1,792 for the week ending March 7, 2014, reaching the highest count since December 14, 2012.  The count is some 2.3% above the year-ago level of 1,752.

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 6.2% from 626 last week to 587 this week, falling for a second time after an eight-week climb.  Despite the fall, the count is some 1.2% above the year-ago level of 580.

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.

U.S. Rig Count Decreases, Canadian Rig Count Halts Eight-Week Climb

February 28, 2014 Posted by Steel Market Intelligence

The number of active oil and natural gas rigs in the United States decreased 0.1% from 1,771 last week to 1,769 for the week ending February 28, 2014.  The count is some 0.7% above the year-ago level of 1,757.

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 0.1% from 632 last week to 626 this week, halting an eight-week, 140.3% increase that started at the beginning of the year.  The count is some 4.4% below the year-ago level of 655.

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.

U.S. Rig Count Rebounds Slightly, Canadian Rig Count Remains at Eleven-Month High

February 21, 2014 Posted by Steel Market Intelligence

The number of active oil and natural gas rigs in the United States reversed last week’s decrease, rebounding 0.4% from 1,764 last week to 1,771 for the week ending February 21, 2014.  The count is some 0.6% above the year-ago level of 1,761.

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 climbed for the eighth consecutive week, up 1.3% from 624 last week to 632 this week, and is still at the highest count since March 1, 2013.  The count has increased 140.3% since the beginning of the year, but is some 4.5% below the year-ago level of 662.

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.

U.S. Rig Count Decreases Again, Canadian Rig Count Still at Eleven-Month High

February 14, 2014 Posted by Steel Market Intelligence

The number of active oil and natural gas rigs in the United States decreased for the second week, down 0.4% from 1,771 last week to 1,764 for the week ending February 14, 2014.  The count is a mere 0.1% above the year-ago level of 1,762.

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 climbed for the seventh consecutive week, up 0.5% from 621 last week to 624 this week, and is still at the highest count since March 1, 2013.  The count has increased 137.3% since the beginning of the year, but is some 4.1% below the year-ago level of 651.

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.

U.S. Rig Count Falls from Five-Month High, Canadian Rig Count Remains at Eleven-Month High

February 7, 2014 Posted by Steel Market Intelligence

The number of active oil and natural gas rigs in the United States decreased 0.8% from last week’s five-month high of 1,785 to 1,771 for the week ending February 7, 2014.  Despite the decrease, the count is some 0.7% above the year-ago level of 1,759.

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 climbed for the sixth consecutive week, up 2.1% from 608 last week to 621 this week, and remains at the highest count since March 1, 2013.  The count has increased 136.1% since the beginning of the year, but is some 1.6% below the year-ago level of 631.

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.

U.S. Rig Count Climbs to Five-Month High, Canadian Rig Count at Eleven-Month High

February 3, 2014 Posted by Steel Market Intelligence

The number of active oil and natural gas rigs in the United States increased 0.5% from 1,777 last week to 1,785 for the week ending January 31, 2014 and reached the highest count since August 16, 2013.  The count is some 1.2% above the year-ago level of 1,764.

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 increased for the fifth consecutive week, up 3.1% from 590 last week to 608 this week, and remaining at the highest count since March 1, 2013.  The count increased 131.2% over the month of January, but is some 2.7% below the year-ago level of 625.

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.

January OCTG Prices Decrease

February 3, 2014 Posted by Steel Market Intelligence

OCTG prices decreased to $1,627 for the month of January, down 1.0% from December’s price of $1,643.  Seamless prices decreased 1.4% from $1,766 last month to $1,742 this month, and ERW prices decreased 0.5% from $1,519 to $1,512.  The OCTG Pipe Logix Index is 5.4% lower than last year.

The domestic price premium decreased 4.1% from $443 in December to $425 in January.  Rig counts decreased 0.3% from 7,082 for the month of December to 7,059 in January.

Source: Steel Market Intelligence and Pipe Logix