For the week of September 12, Baker Hughes reported that the Western Canadian gas-directed rig count rose one to 59 (blue line and text in left hand chart below), eight 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. Drilling activity continued to be held back by increased caution exercised by producers over capital spending programs.
Featured Articles
- Analyst Insight
Canadian Drilling – Dull as Dishwater
Canadian drilling activity remains stagnant and dull, going sideways for eight consecutive weeks.
- 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 Creep Higher to Start July
The Canadian drilling rig count makes some headway going into July but still lags year ago activity levels.
