Baker Hughes Rig Count: What It Means for Oil Prices & Your Business [2026 Guide]

The Baker Hughes rig count is the most-watched leading indicator in the oil and gas industry. Released every Friday at 1:00 PM ET, this weekly report moves markets and drives billions in capital allocation decisions. This guide explains what the rig count means, how to interpret it, and how to programmatically access this data for your applications.

What Is the Baker Hughes Rig Count?

The Baker Hughes rig count tracks the number of active drilling rigs in North America and internationally. Started in 1944, it has become the definitive measure of oil and gas drilling activity.

Key Metrics Reported

Metric	Description	Why It Matters
US Total	All active rigs in the United States	Overall US drilling activity
Oil vs Gas	Rigs targeting oil vs natural gas	Commodity-specific production outlook
By Basin	Permian, Bakken, Eagle Ford, etc.	Regional production forecasting
Offshore	Gulf of Mexico activity	Deepwater production trends
Canada	Canadian rig activity	North American supply picture

2026 Context

As of January 2026, the US rig count stands at approximately 580 rigs, down from the post-pandemic peak of 780+ but stable compared to the pre-2014 era when counts exceeded 1,900.

Why the Rig Count Matters for Your Business

For Oilfield Software Companies

If you build software for E&P operators, drilling contractors, or oilfield service companies, rig count data is essential:

Customer dashboards: Display current drilling activity alongside your operational data
Market context: Show clients how their activity compares to industry trends
Forecasting features: Use rig count trends to project future demand

For Oilfield Service Companies

Equipment manufacturers, frac providers, and drilling contractors use rig counts to:

Forecast demand: More rigs = more demand for equipment and services
Sales planning: Target regions with increasing activity
Inventory management: Anticipate parts and equipment needs

For Energy Traders & Analysts

The rig count is a leading indicator that moves oil and gas prices:

Production forecasting: Rig count changes predict production 6-12 months ahead
Price modeling: Incorporate drilling activity into price forecasts
Trading signals: Weekly changes can trigger position adjustments

How to Interpret Rig Count Data

Week-Over-Week Changes

Change	Typical Interpretation
+10 or more	Strong bullish signal, increased activity
+1 to +9	Modest growth, stable market
0 to -5	Flat to slight consolidation
-6 to -20	Meaningful pullback, operators cautious
-20 or more	Significant contraction, potential supply impact

Basin-Level Analysis

The Permian Basin alone accounts for ~50% of US drilling activity. Tracking individual basins provides more granular insights:

Permian Basin: ~300 rigs (50% of US total)
Eagle Ford: ~50 rigs
Bakken: ~35 rigs
Appalachian (Marcellus/Utica): ~40 rigs (gas-focused)

Seasonal Patterns

Canadian rig counts follow pronounced seasonal patterns due to spring breakup (thaw) conditions. US counts are more stable year-round.

Accessing Rig Count Data via API

Manual collection from Baker Hughes PDFs is time-consuming and error-prone. OilPriceAPI provides programmatic access to rig count data, updated within 30 minutes of each weekly release.

Get Latest Rig Count

curl "https://api.oilpriceapi.com/v1/ei/rig_counts/latest" \
  -H "Authorization: Token YOUR_API_KEY"

Response:

{
  "data": {
    "report_date": "2026-01-24",
    "us_total": 584,
    "us_oil": 479,
    "us_gas": 101,
    "us_misc": 4,
    "week_over_week": -3,
    "basins": {
      "permian": { "count": 298, "week_over_week": -2 },
      "eagle_ford": { "count": 48, "week_over_week": 0 },
      "bakken": { "count": 35, "week_over_week": -1 },
      "niobrara": { "count": 12, "week_over_week": 0 }
    }
  },
  "meta": {
    "source": "baker_hughes",
    "release_time": "2026-01-24T18:00:00Z",
    "api_version": "v1"
  }
}

Get Historical Rig Count Data

Track trends over time for forecasting and analysis:

# Get 52 weeks of history
curl "https://api.oilpriceapi.com/v1/ei/rig_counts/historical?weeks=52" \
  -H "Authorization: Token YOUR_API_KEY"

Filter by Basin

Get data for specific basins:

# Permian Basin only
curl "https://api.oilpriceapi.com/v1/ei/rig_counts/by_basin?basins=permian" \
  -H "Authorization: Token YOUR_API_KEY"

# Multiple basins
curl "https://api.oilpriceapi.com/v1/ei/rig_counts/by_basin?basins=permian,bakken,eagle_ford" \
  -H "Authorization: Token YOUR_API_KEY"

Integration Examples

Python: Rig Count Dashboard

import requests

API_KEY = "YOUR_API_KEY"
BASE_URL = "https://api.oilpriceapi.com/v1"

def get_rig_count():
    """Get latest US rig count with basin breakdown."""
    response = requests.get(
        f"{BASE_URL}/ei/rig_counts/latest",
        headers={"Authorization": f"Token {API_KEY}"}
    )
    return response.json()

def analyze_trend(weeks=12):
    """Analyze rig count trend over specified weeks."""
    response = requests.get(
        f"{BASE_URL}/ei/rig_counts/historical",
        params={"weeks": weeks},
        headers={"Authorization": f"Token {API_KEY}"}
    )
    data = response.json()["data"]["history"]

    # Calculate average weekly change
    changes = [w["week_over_week"] for w in data if w.get("week_over_week")]
    avg_change = sum(changes) / len(changes) if changes else 0

    return {
        "period_weeks": weeks,
        "avg_weekly_change": round(avg_change, 1),
        "total_change": sum(changes),
        "trend": "increasing" if avg_change > 0 else "decreasing"
    }

# Usage
latest = get_rig_count()
print(f"US Total Rigs: {latest['data']['us_total']}")
print(f"Permian: {latest['data']['basins']['permian']['count']}")
print(f"Week-over-Week: {latest['data']['week_over_week']:+d}")

trend = analyze_trend(12)
print(f"12-Week Trend: {trend['trend']} ({trend['total_change']:+d} rigs)")

class RigCountWidget {
  constructor(apiKey) {
    this.apiKey = apiKey;
    this.baseUrl = "https://api.oilpriceapi.com/v1";
  }

  async getLatest() {
    const response = await fetch(`${this.baseUrl}/ei/rig_counts/latest`, {
      headers: { Authorization: `Token ${this.apiKey}` },
    });
    return response.json();
  }

  async getBasinComparison(basins = ["permian", "eagle_ford", "bakken"]) {
    const response = await fetch(
      `${this.baseUrl}/ei/rig_counts/by_basin?basins=${basins.join(",")}`,
      { headers: { Authorization: `Token ${this.apiKey}` } },
    );
    return response.json();
  }

  formatChange(change) {
    if (change > 0) return `+${change}`;
    return change.toString();
  }
}

// Usage
const widget = new RigCountWidget(process.env.OILPRICE_API_KEY);
const data = await widget.getLatest();

console.log(`US Rig Count: ${data.data.us_total}`);
console.log(`Change: ${widget.formatChange(data.data.week_over_week)}`);

Use Cases

1. Oilfield Software Dashboard

Embed rig count data into your E&P software to show operators how market activity relates to their operations. Display regional counts alongside well performance metrics.

2. Sales Intelligence for OFS Companies

Alert your sales team when rig counts increase in specific basins. Higher activity means more demand for your services and equipment.

3. Energy Trading Models

Incorporate rig count data into production forecasting models. A sustained rig count increase typically translates to production growth 6-12 months later.

4. Investor Relations Presentations

E&P companies reference rig counts to contextualize their drilling programs. Automate the inclusion of current counts in IR materials.

5. Market Research Reports

Energy consultancies and research firms use rig count trends as a baseline for drilling activity analysis and market sizing.

Data Release Schedule

Report	Release Time	Coverage
Weekly US/Canada	Friday 1:00 PM ET	Prior week activity
Monthly International	Monthly	Global rig counts

OilPriceAPI updates rig count data within 30 minutes of each Baker Hughes release.

Why Use an API Instead of Manual Collection?

Manual Collection	OilPriceAPI
Download PDF each Friday	Auto-updated in your system
Parse tables manually	Structured JSON response
Build your own database	Historical data included
Handle format changes	Consistent API contract
~2 hours per week	~2 hours one-time integration

Getting Started

Sign up at oilpriceapi.com/signup (free tier available)
Get your API key from the dashboard
Test the rig count endpoint with the examples above
Integrate into your application or dashboard

The free tier includes 1,000 API requests per month—enough to fetch rig count data multiple times per day for evaluation.

Rig Counts API Reference - Complete API documentation
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Energy Intelligence Quickstart - Get started guide
Power BI Integration - Build rig count dashboards