A weekly tally of active drilling rigs operating across a region, published by companies like Baker Hughes. Subcontractors use it to gauge market demand and anticipate work volumes. A rising count typically signals increased opportunities for drilling-related field services.
IndustryGlossary Term
Rotary Rig Count
Related Terms
Scope Validation
IndustryThe process of confirming that the work described in a contract matches actual field conditions before mobilising. Subcontractors use it to catch scope gaps that could lead to unpaid extras. Undocumented changes discovered on-site are easier to dispute without prior validation.
STEO (Short-term Energy Outlook)
IndustryA monthly U.S. Energy Information Administration report forecasting near-term oil, gas, and energy prices. Subcontractors use it to anticipate upstream spending trends and project demand for field services. Shifts in STEO forecasts often signal whether operators will ramp up or cut back work programmes.
Microgrid
IndustryA small, self-contained power system that operates independently from the main utility grid. Subcontractors working remote sites often rely on microgrids for consistent site power. Knowing the local power setup affects equipment compatibility and fuel logistics planning.
Bore Path
IndustryThe planned underground route a drill bit follows during horizontal directional drilling (HDD). Subcontractors use bore path data to plan equipment placement, crew positioning, and utility clearances. Deviations from the bore path can trigger rework costs and schedule delays.
Work Order
IndustryA formal document issued by a client or general contractor authorising a subcontractor to perform a specific scope of work. It outlines the job details, location, timeline, and agreed rate. Subcontractors typically cannot invoice without a valid work order number.
Sealed Bid
IndustryA confidential tender submission where subcontractors submit pricing without knowing competitors' rates. All bids are opened simultaneously by the hiring company. This process is common in public sector and large operator contracts across oil and gas and construction.
Latest Industry News
Industry
North America Rig Count Falls 10 Week-Over-Week, Baker Hughes Data Shows
Baker Hughes' latest rotary rig count shows North America down 10 rigs week-over-week, its first decline since May, driven by an 11-rig drop in Canada and a five-rig pullback in the Permian Basin.
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