As of June 14, Baker Hughes reported that the Western Canadian gas-directed drilling rig count rose one rig to 55 (blue line in left hand chart below) and one less than a year ago. For the oil-directed drilling rig count, it rose 15 to 101 (red line in right hand chart) and one less than a year ago. The gas rig count continues to hold near its lowest point this year, likely reflecting producers’ reluctance to increase drilling due to low benchmark gas prices, while the oil rig count is holding at or above the high end of the historic range.
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- Analyst Insight
Canadian Drilling – Oil Rig Count Holds Strong, Gas Still Struggling to Increase
Canadian gas drilling, though at the top end of the historic range, has shown little tendency to increase in the the past two months; oil drilling, however, remains very active, with Alberta and its oil sands leading the way.
- Analyst Insight
Canadian Drilling – Oil Rig Count Roaring Back, With Gas Going Sideways
Canadian oil rig count continues to roar higher driven by drilling in the Bakken and Alberta heavy oil. Will gas drilling ever make a comeback?
- Analyst Insight
Canadian Drilling – Rig Counts Push Higher into the Heart of the Winter Drilling Season
Canadian oil and gas rig counts pushed higher after the holiday break and with the winter drilling season now in full swing.
