For the week ending February 14, Baker Hughes reported that the Western Canadian gas-directed rig count fell one to 71 (blue line and text in left hand chart below), 19 less than one year ago and holding at the bottom of the five-year range. The oil-directed rig count dropped three to 172 (red line and text in right hand chart), 28 more than a year ago and matching the value from four weeks ago. After an initial surge in activity in January following the year end holiday break, Canadian rig counts have settled into a stable range in recent weeks.
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- Analyst Insight
Canadian Drilling – Steady Ahead for Gas and Oil Rig Counts
Little to no change for oil and gas rig counts as the industry cruises through the heart of the winter drilling season.
- 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.
- Analyst Insight
Canadian Drilling – Rig Counts Continue to Move Sideways
Canadian oil and gas drilling remains largely on autopilot, cruising sideways until spring break up later in March or early April.
