For the week ending March 8, Baker Hughes reported a net decline of three for the Canadian gas directed rig count to 84 (blue line in left hand chart below) and at the same level as one year ago. For the oil directed rig count, it fell three rigs to 141 (red line in right hand chart), and two higher than one year ago, and remains in a tight seven-week range between 141 to 144 rigs. The latest gas rig count is at the top of the five-year range, while the oil rig count is now just above of its five-year range.
Featured Articles
- Analyst Insight
Canadian Drilling – Rig Counts Turn Lower as Spring Breakup Gets Underway
Spring break up is clearly getting underway with the latest weekly Canadian oil and gas rig counts moving lower.
- Analyst Insight
Canadian Drilling – Gas Rigs Near Steady While Oil Rigs Fall on Spring Break Up
Oil rigs fell substantially last week as spring break up takes a major bite out of drilling activity..
- Analyst Insight
Canadian Drilling – Rig Counts Search for the Bottom with Spring Break Up in High Gear
Oil rigs fall further as spring break up deepens; gas rigs also starting to pull back as the "mud season" (spring break up) starts to affect the unconventional gas regions.
