Oil and Gas Rotary Rig Counts:  The total number of operating rigs in Canada for the week ending April 30th was 20 oil and 31 gas (totaling 51). In percentage terms, on a month on month (m/m) basis, oil rigs were down 16.7% and gas down 31.1%. On a year on year (y/y) comparison, rigs were up 185.7% for oil and up 55.0% for gas. The combined figure for y/y was +88.9% or 24 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.