For the week of September 19, Baker Hughes reported that the Western Canadian gas-directed rig count rose one to 60 (blue line and text in left hand chart below), six less than one year ago and is at its highest point since mid-March. The oil-directed rig count rose two to 126 (red line and text in right hand chart), 15 less than a year ago and is the highest since the first week of March. Drilling activity has continued to trend mostly sideways due to increased caution exercised by producers over capital spending programs.
Featured Articles
- Analyst Insight
Canadian Drilling – Rig Counts Creep Higher to Start July
The Canadian drilling rig count makes some headway going into July but still lags year ago activity levels.
- Analyst Insight
Canadian Drilling – Summer Vacation Lingers On for Rig Counts
Oil and gas rig counts remain trapped in a narrow range held back by oil/gas price weakness and uncertainty.
- Analyst Insight
Canadian Drilling – Summer Heat Lifts Rig Counts
For the week of July 11, the Canadian oil rig count rose with drier weather while the gas rig limped higher.
