For the week of August 15, Baker Hughes reported that the Western Canadian gas-directed rig count was unchanged at 57 (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 124 (red line and text in right hand chart), 23 less than a year ago and the lowest for this time of year since 2023.
Featured Articles
- Analyst Insight
Canadian Drilling – Still in Search of Direction
Rig counts, especially for oil, remain in stall mode and lagging behind last year.
- Analyst Insight
Canadian Drilling – Mid-Summer Stall
Western Canadian rig counts took a small summer vacation this past week.
- 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.
