The number of drilling rigs actively operating in a region. Published weekly by Baker Hughes, the rig count is a leading indicator of activity levels in the oil and gas industry.
Rig Count
Related Terms
CPF (Central Processing Facility)
IndustryA fixed surface facility where oil, gas, and water from multiple wells are separated, treated, and prepared for transport or sale. For subcontractors, a CPF is often a long-term, high-activity work site requiring trades, maintenance, and operations crews. Scope can include initial construction, commissioning, turnarounds, and ongoing maintenance contracts.
Open Season
IndustryA formal period when a pipeline or facility operator accepts capacity commitments from potential shippers or users. For subcontractors, it signals upcoming project activity and a chance to position for related field service work. Winning commitments during open season often triggers procurement and mobilisation timelines.
Predictive Maintenance
IndustryA maintenance approach that uses equipment data and monitoring to forecast failures before they occur. Subcontractors may be dispatched for targeted repairs based on sensor alerts rather than fixed schedules. This reduces emergency callouts and helps crews plan mobilisation more efficiently.
Run Schedule
IndustryA timeline that outlines when specific tools, equipment, or crews are deployed downhole or on-site during an operation, dictating when a subcontractor's services are required and for how long. For field service companies, the run schedule directly determines mobilisation timing, crew rotations, and invoiceable hours on location.
Coal Bed Methane
IndustryCBM (Coal Bed Methane) is natural gas extracted from coal seams rather than conventional reservoirs. Field crews typically handle dewatering operations, pipeline tie-ins, and wellsite maintenance on CBM projects. Work is often spread across large numbers of shallow, closely spaced wells requiring frequent travel between sites.
Carbon Capture
IndustryThe process of collecting and storing CO2 emissions from industrial sites before they reach the atmosphere. For subcontractors, it means growing work opportunities in facility retrofits, pipeline installation, and compression equipment servicing. Familiarity with CCS (Carbon Capture and Storage) infrastructure is increasingly expected on energy transition projects.
Latest Industry News
US Rig Count Hits 563, Marking Eighth Gain in Nine Weeks
The US oil and gas rig count rose to 563 for the week ending June 18, its highest since early June and up 2% year over year, according to Baker Hughes data reported by Reuters.
2 days ago IndustryUS Rig Count Edges Down to 562 for Week Ending June 12
The US rig count slipped by one to 562 for the week ending June 12, with mixed movement across basins and gas rigs falling to their lowest level since October.
7 days ago IndustryUS Rig Count Dips for First Time in Eight Weeks, Baker Hughes Reports
The total US oil and gas rig count fell by 1 to 562 for the week ending June 12, snapping an eight-week climb, according to Baker Hughes data reported by Reuters.
9 days ago IndustryUS Rig Count Hits Seven-Week Growth Streak, Longest Run Since 2022
The US oil and gas rig count rose to 563 for the week ending June 5, marking seven consecutive weeks of gains and the longest growth streak since May 2022, according to Baker Hughes.
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Industry GuideWhat Is an AFE in Oil and Gas and How Does It Affect Subcontractor Payments?
An AFE (Authorization for Expenditure) controls every dollar spent on an oilfield project. Learn how it affects your billing, change orders, and cash flow as a subcontractor.
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