For the week of September 5, Baker Hughes reported that the Western Canadian gas-directed rig count rose three to 58 (blue line and text in left hand chart below), nine less than one year ago and is the lowest for this time of year since 2020. The oil-directed rig count rose three to 121 (red line and text in right hand chart), 27 less than a year ago and the lowest for this time of year since 2023. Drilling activity continued to be held back by increased caution exercised by producers over capital spending programs.
Featured Articles
- 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 – End of Summer Holiday
The Canadian drilling rig count remains on summer vacation, still trending sideways.
- 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.
