For the week ending November 1, Baker Hughes reported that the Western Canadian gas-directed rig count rose one to 67 (blue line in left hand chart below), seven less than one year ago and holding very much in the same range where it has been since the start of July. The oil-directed rig count slipped four to 144 (red line in right hand chart), 23 more than a year ago and a seven-week low. The gas rig count remains stable ahead of what may be a gradual ramping up of activity into the winter drilling season. The third consecutive weekly drop in oil rigs may be reflecting seasonal variations as some rigs prepare to move to winter access-only drilling sites.
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- Analyst Insight
Canadian Drilling – Oil and Gas Rig Counts Dip Lower
Canadian oil and gas rig count slipped lower in the latest week but remain very active for this time of year, especially on the oil drilling side.
- Analyst Insight
Canadian Drilling – Oil Rigs Move Lower Once Again, Small Uptick for Gas Rigs
The Canadian oil rig count made a surprising move lower, while gas rigs inched a little higher - almost the opposite of what one might expect.
- Analyst Insight
Canadian Drilling – Oil and Gas Rig Counts Continue to Move Lower
Canadian rig counts drifted lower last week for both oil and gas.
