Oil and Gas Rotary Rig Counts:  The total number of operating rigs in Canada the week as of September 25th was 33 oil and 38 gas (totaling 71). In percentage terms, on a month on month, (m/m) basis, oil rigs were up 73.7 and gas up 8.6%. On a year on year, (y/y) comparison, rigs were down 68.6% for oil and down 2.6% for gas. The combined figure for y/y was -44.1% or -63 rigs.

Figure 1 shows the Baker Hughes Rotary Rig Counts for oil and gas equipment in the Canada from 2012 to present.

At Gerdau we monitor rig counts along with the price of oil and natural gas since it has a major impact on long product sales to include Special Bar Quality sucker rods for downhole pumping strings to merchant and structural products for rigs and oilfield equipment.