Posts Tagged: ‘Bakken Formation’

U.S. Rig Count Rises Slightly; Canada Continues Climb

February 15, 2013 Posted by Steel Market Intelligence

The number of active oil and natural gas rigs in the United States rose by 3 to 1,762 for the week ending February 15, 2013 – up 0.2% from last week and 0.7% from the nearly 2-year low a month ago but down 11.6% from last year.

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 for the 7th straight week, rising by by 3.2% to 651 from 631 last week but was still down 7.7% from last year.

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.

U.S. Rig Count Down Nominally; Canada Shows Biggest Jump in Over 13 Years

January 11, 2013 Posted by Steel Market Intelligence

The number of active oil and natural gas rigs in the United States fell for the seventh straight week – declining by 1 to a 22-month low of 1,761 for the week ending January 11, 2013 – down 0.1% from last week and 11.3% from a year ago.

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 showed a massive jump of 105.8% to 531 from 258 last week – the biggest jump in over 13 years and well above the 44.0% average jump for the second week in January.

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.

 

U.S. Rig Count Falls Again, Canada Slips

October 1, 2012 Posted by Steel Market Intelligence

The number of active oil and natural gas rigs in the United States fell by 11 to 1,848 for the week ending September 21, 2012, down 0.6% from the previous week and 7.1% from a year-ago – reaching the lowest level since May 2011.

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 1.1% to 359 from 363 last week, after having posted 3 consecutive weekly increases – the count remained some 29.6% below the year-ago level.

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.