US & Canada Rig Counts Sink In Latest Update

September 14, 2011 in Blog, News & Articles by

Both the US and Canadian rig counts posted losses for the week September 2-9, according to energy industry consulting firm Baker Hughes.

The US count decreased by 10 net rigs for a total of 1,958, or 304 rigs above 2010’s equivalent weekly count.

Rigs geared for oil production decreased by seven, while rigs geared for natural gas production decreased by three.

By state, Texas posted the largest individual loss with 14 rigs. Oklahoma posted the largest gain with eight.

The Canadian rig count fell by two net rigs for a total of 515, or 132 rigs above 2010’s equivalent weekly count, Steel Business Briefing notes.

For related articles, visit: http://www.steelbb.com/us/?PageID=183&article_id=97610

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