The Baker Hughes Rig Count is a frequently monitored report that tracks the number of active drilling rigs in the oil and gas sector. It acts as a gauge for the vitality of the energy industry, with variations in rig counts indicating changes in exploration and production activities. Founded in 1944 by Baker Hughes (now known as Baker Hughes, a GE company), the rig count has become a crucial measure of drilling activity in the United States, Canada, and global markets. By observing the number of active rigs, the report offers insights into industry trends, production levels, and the overall condition of the energy sector.

The Baker Hughes Rig Count categorizes the data into several sections:

• Geographical regions: The report monitors rig counts in the United States, Canada, and international markets. U.S. data is further segmented into individual states and offshore areas.
• Rig types: Rig counts are classified into oil rigs, gas rigs, and miscellaneous rigs, offering insights into the specific energy resources being targeted.
• Directional, horizontal, and vertical drilling: The report also provides details on the types of drilling methods used by active rigs, which can reflect technological advancements and efficiency improvements in the industry.

The weekly changes in rig counts, along with long-term trends, can be analyzed to gain insights into the trajectory of the energy sector and its potential effects on oil and gas prices.

The Baker Hughes Rig Count serves as a valuable resource for industry participants, analysts, and investors for several reasons:

• Production levels: An increase in active rigs may indicate higher production levels, while a decrease could suggest lower production. This information can influence oil and gas prices as well as energy stocks.
• Industry health: Trends in rig counts can provide insights into the financial stability of the oil and gas sector, as companies may modify their exploration and production activities based on market conditions, such as oil prices and economic factors.
• Employment and economic impact: The number of active rigs can also reflect employment levels in the oil and gas industry and the broader economic implications of the sector.

The Baker Hughes Rig Count is published by Baker Hughes, a GE company, which is one of the largest oilfield services providers globally. The company gathers the data from its extensive network and industry sources.

The Baker Hughes Rig Count is released every Friday and can be accessed on the Baker Hughes website. Historical data is also available, allowing users to analyze long-term trends and compare rig counts across various time periods and market conditions.