Rig activity is a key indicator for the Oilfield Service Industry, closely followed by managements of service companies, investors and stock analysts alike. Two Smith Segments track rig activity– M-I SWACO and Smith Oilfield. M-I SWACO tracks rigs in North America and the rest of the world and is very comprehensive. Smith Oilfield tracks activity in North America but the data is more selective and much more granular – identifying more parameters for each rig such as operator, well depth and location. They do not correlate exactly but each serves a different purpose and they are both published as a service to the Industry.
M-I SWACO Rig CountRigs included in the M-I SWACO Rig Count are engaged in drilling and related operations, which include drilling, logging, cementing, coring, well testing, fishing, waiting on weather, running casing and blowout preventer (BOP) testing.
M-I SWACO US & Canada Rig CountThe US & Canada Rig Count is published every Tuesday; it includes the US and Canada, but excludes Mexico. A rig is included in the count if it is engaged in drilling and related operations. Workover and completion activity are explicitly excluded. View US & Canada Rig Count (here)
M-I SWACO Worldwide Rig CountThe M-I SWACO Worldwide Rig Count is the sum of the Worldwide Rig Count and the average of the weekly US & Canada rig counts for the calendar month. The Worldwide Rig Count is tabulated monthly on a per country basis. A rig is included in the count if:
Unlike the US & Canada Rig Count, the Worldwide Rig Count may include completion activities if the rig continues directly from drilling and related operations to completion operations after reaching total depth (TD). Workover activities are explicitly excluded from the Worldwide Rig Count. The M-I SWACO Worldwide Rig Count is published the second week of each month reflecting the previous month's data. View Worldwide Rig Count (here) |
S.T.A.T.SThe Smith Technologies Activity Tracking System (S.T.A.T.S.) includes rigs that are actively drilling a wellbore and using considerable amounts of oilfield products and services. All rigs, including traditional rotary design rigs, workover rigs, truck mounted rigs, and coiled tubing rigs, are included if they are rigging up, drilling, fishing, or rigging down. These rigs are included in the count until the rig reaches total depth. Rigs specifically not included are cable tool rigs and those involved in non-drilling activities. View S.T.A.T.S. (here)
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