World Oil & Gas Rig Count

Oil rig activity begins strong at 1,377 units in January and peaks at 1,413.25 in February before trending downward through late spring, reaching a low of 1,269.2 in May. Gas rigs follow a similar pattern, easing from 460.2 to around 439–449 during mid-year before recovering slightly. Miscellaneous rigs fluctuate modestly, with noticeable growth from 49.2 in May to over 60 in July. Toward the final months, activity stabilizes: oil rigs level near 1,286–1,292, gas rigs hover around 457–461, and miscellaneous rigs settle near the upper-50s. The last recorded values—1,286.2 oil rigs, 457 gas rigs, and 57.20 misc rigs—suggest a relatively balanced, steady drilling environment entering year-end. Source: Baker Hughes