OTCG Tubular Products Update – Active Rigs Up

May 25, 2011 in Industry Trends, News & Articles by

Compared to last year the active rig count is up by 324 rigs (Baker Hughes Weekly Oil Rig Report).  There has been a recent drop (-6) over the last week but the numbers are still promising for steel pipe companies.  Understanding these numbers is an important aspect of understanding what the OCTG tubular products industry might be doing.

The US rig count reached 1,830 in the week ended May 6, up 344 rigs above the equivalent weekly count in 2010.  Other notable stats for May 6th include:

  • Both oil and gas rigs increased by eight net rigs, while two additional rigs were classified as miscellaneous.
  • By state, Texas posted the most noticeable gain by far with 12 new net rigs.
  • Canada’s rig count fell to 123 rigs, just 20 rigs above its equivalent 2010 weekly count, Steel Business Briefing notes.

Interested in OCTG tubular products and availability, contact us for a quote.

Information sited from:  http://www.bakerhughes.com/

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