rig count

Rig count refers to the number of active drilling rigs working in a specific area or industry, typically in oil and gas exploration. It serves as an indicator of industry activity and investment, with higher rig counts suggesting increased exploration or production efforts, while lower counts may signal decreased activity. States or regions report their rig counts regularly, providing insight into market trends and energy production prospects. Essentially, rig count reflects how busy drillers are, offering a snapshot of the industry's current focus and potential future supply.