There have been lots of social media posts lately about changing rig count. While rumors can either encourage or deflate hopes, hard numbers can help to dispel myths. For an accurate assessment of rig counts that is available to the public, Oilfield Instrumentation refers you to this easily understandable resource used by the oil and gas industry to see the hard data. The report, which is available to the general public, breaks down rig counts by region, description and time period. It also provides previous data so you can compare the current rig count to those of last week and last year.
As captioned on its web site, “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.”
For a pdf version, see also Rig Count Summary_071516.