For the week of December 5, Baker Hughes reported that the Western Canadian gas-directed rig count fell two to 65 (blue line and text in left hand chart below), five less than a year ago and the lowest for this time of year since 2021. The oil-directed rig count gained five to 126 (red line and text in right hand chart), four more than a year ago, the first year-on-year gain since mid-May, and its highest level for this time of year since 2022. Rig counts are within a few weeks of rolling lower as part of the traditional holiday break for rig crews at the end of each year.
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- Analyst Insight
Canadian Drilling – Last Kick at the Can Before the Holidays
Rig counts held relatively firm just before the traditional downturn at the end of the year.
- Analyst Insight
Canadian Drilling – Spooky Surprise for the Oil Rig Count
Western Canada's latest gas rig count fell slightly, while its oil rig count recorded a larger than seasonal drop - a most spooky surprise.
- Analyst Insight
Canadian Drilling – Home for the Holidays
Western Canadian oil and gas rig counts fell once again to conclude the year and the year-end holiday break for rig crews.
