U.S. Rig Count Climbs From March 2011 Low, Canada Rig Count Continues to Fall

April 15, 2013 Posted by Steel Market Intelligence

The number of active oil and natural gas rigs in the United States rose 1.9% to 1,771 for the week ending April 12, 2013, up from last week’s 1,738, which was the lowest since March 2011.  The count is still 9.2% below the year-ago level of 1,950.

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 24.3%, dropping from 206 to 156 – the lowest count since June 1, 2012 – and were down 4.9% from the year-ago level of 164.

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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