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