U.S. Rig Count Continues to Increase

Rig exploring and producing in the U.S. totaled 1,567 for the week ended July 9, 2010, up 10 from the previous week. The current rig count is up almost 79% over 2009's low of 876 (set in the week ended June 12, 2009). It rose to 22-year high in 2008, peaking at 2,031 in the weeks ending August 29 and September 12. The number of rigs drilling for natural gas reached 964, an increase of four rigs from the previous week, while the oil-directed rig count was 592, an increase of five rigs (chart of week ending July 9, 2010 is below).

Baker Hughes has issued the rotary rig counts as a service to the petroleum industry since 1944, when Hughes Tool Company began weekly counts of U.S. and Canadian drilling activity. Hughes initiated the monthly international rig count in 1975. The North American rig count is released weekly at noon central time on the last day of the work week. The international rig count is released on the fifth working day of each month.

Click here to view the Interactive Rig Count Map

The working rig location information is provided in part by RigData.