Steel Market Intelligence » rig count https://www.michelleapplebaum.com/blog Analytical Steel Industry Expertise Wed, 09 Apr 2014 19:25:37 +0000 en-US hourly 1 U.S. Rig Count Falls from Five-Month High, Canadian Rig Count Remains at Eleven-Month High https://www.michelleapplebaum.com/blog/?p=4604 https://www.michelleapplebaum.com/blog/?p=4604#comments Fri, 07 Feb 2014 19:09:33 +0000 http://www.michelleapplebaum.com/blog/?p=4604 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.

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