U.S. Rig Count Rises Slightly, Canadian Rig Count Increases for Third Week

June 5, 2013 Posted by Steel Market Intelligence

The number of active oil and natural gas rigs in the United States rose to 1,771 for the week ending May 31, 2013, up 0.5% from last week’s count of 1,762 but 10.6% below the year-ago level of 1,980.

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 rose 10.7% to 145, some 22.9% above the three-year low of 118.  Despite the climb, rigs are down 7.1% compared to last year’s count of 156.

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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