U.S. Rig Count Decreases, Canadian Rig Count Highest Since Early April

June 25, 2013 Posted by Steel Market Intelligence

The number of active oil and natural gas rigs in the United States fell to 1,759 for the week ending June 21, 2013, a 0.7% decline from last week’s 1,771 and is some 10.5% below the year-ago level of 1,966.

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 for the sixth consecutive week, climbing 11.9% from 176 to 197 this week, and reaching an 11-week high.  Despite the increase, the count is still 17.2% below the year-ago level of 238.

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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