Oil and Gas Rotary Rig Counts:  The total number of operating rigs in Canada the week as of November 27th was 38 oil and 64 gas (totaling 102). In percentage terms, on a month on month (m/m) basis, oil rigs were up 8.1% and gas up 21.1%. On a year on year (y/y) comparison, rigs were down 58.8% for oil and up 7.0% for gas. The combined figure for y/y was -26.1% or -36 rigs.

Figure 1 shows the Baker Hughes Rotary Rig Counts for oil and gas equipment in 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, including special bar quality sucker rods for downhole pumping strings to merchant and structural products for rigs and oilfield equipment.