Steel Market Intelligence » Oil Production

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

Steel Market Intelligence — Mon, 07 Apr 2014 17:18:33 +0000

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

Steel Market Intelligence — Tue, 25 Mar 2014 16:26:40 +0000

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

Steel Market Intelligence — Mon, 17 Mar 2014 16:08:19 +0000

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

Steel Market Intelligence — Mon, 10 Mar 2014 14:47:28 +0000

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

Steel Market Intelligence — Fri, 28 Feb 2014 19:39:01 +0000

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

Steel Market Intelligence — Fri, 21 Feb 2014 19:14:38 +0000

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

Steel Market Intelligence — Fri, 14 Feb 2014 19:26:58 +0000

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

Steel Market Intelligence — Fri, 07 Feb 2014 19:09:33 +0000

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

Steel Market Intelligence — Mon, 03 Feb 2014 17:47:32 +0000

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.

U.S. Rig Count Dormant, Canadian Rig Count Still at Ten-Month High

Steel Market Intelligence — Mon, 27 Jan 2014 20:09:32 +0000

The number of active oil and natural gas rigs in the United States remained at last week’s count of 1,777 for the week ending January 24, 2014. The count is some 1.4% above the year-ago level of 1,753.

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 fourth consecutive week, up 4.4% from 565 last week to 590 this week to the highest count since March 1, 2013. Despite the increase, the count is some 5.0% below the year-ago level of 621.

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.