U.S. Rig Count Declines for Second Week, Canadian Rig Count Nears Three-Month High

July 1, 2013 Posted by Steel Market Intelligence

The number of active oil and natural gas rigs in the United States fell for the second week to 1,748 for the week ending June 28, 2013, decreasing 0.6% from last week’s 1,759 and is now some 10.8% below the year-ago level of 1,959.

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 continued to climb, increasing 4.6% from 197 to 206 this week, and nearing a three-month high.  Despite the increase, the count is still 21.1% below the year-ago level of 261.

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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