As of June 21, Baker-Hughes reported that the Western Canadian gas-directed drilling rig count rose two to 57 (blue line in left hand chart below) and two less than a year ago. For the oil-directed drilling rig count, it rose five to 106 (red line in right hand chart) and three less than a year ago. The gas rig count continues to hold near its lowest point this year, reflecting producers’ reluctance to increase drilling due to low benchmark gas prices, while the oil rig count is holding near the high end of the historic range.
Featured Articles
- Analyst Insight
Canadian Drilling - Oil Rig Count Reaches Triple Digits, Gas Still in the Doldrums
Gas rigs continue to go sideways as low gas prices hold back the incentive to drill; oil rig count roaring higher as producers work on expanding oil sands production.
- Analyst Insight
Canadian Drilling – Oil Rig Count Slips Lower, Gas Rig Count Holds Near Flat
The Canadian gas rig count continues to hold a sideways pattern in the 60s, while oil rigs have slipped lower from the recent peak likely due to seasonal factors.
- 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.
