U.S. Rig Count Falls, Canada Jumps

August 17, 2012 Posted by Steel Market Intelligence

The number of active oil and natural gas rigs in the United States fell to 1,914 for the week ending August 17, 2012, down 0.9% from the prior week and down 3.0% from the year-ago level.

The highest weekly rig count in theUnited Statessince 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 again this week by 9.0% to 326 compared with 299 last week, but was down 32.9% from the year-ago level.

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

Source: Baker Hughes Inc.

 

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Current day month ye@r *