U.S. Rig Count Flat, Canada Moves Up Again

September 14, 2012 Posted by Steel Market Intelligence

The number of active oil and natural gas rigs in the United States remained at 1,864 for the week ending September 14, 2012 and was 6.1% below the year-ago level – remaining at the lowest levels since June 2011.

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 this week by 2.6% to 354 compared with 345 last week but was down 29.5% from the year-ago level.

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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