U.S. Rig Count Falls Slightly, Canadian Rig Count Continues Downward Spiral

April 22, 2013 Posted by Steel Market Intelligence

The number of active oil and natural gas rigs in the United States fell 0.7% from last week’s count of 1,771 to 1,758 for the week ending April 19, 2013 and is 10.9% below the year-ago level of 1,972.

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 eighth consecutive week, dropping 19.2% from 156 to 126, which is the lowest count since May 18, 2012.  The rig count is also down 13.7% from the year-ago level of 146.

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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