For the week ending February 23, Baker Hughes reported no change versus the prior week for the Canadian gas directed rig count, holding steady at 90 (blue line in left hand chart below) and four higher than a year ago. For the oil directed rig count, it fell three rigs to 141 (red line in right hand chart), but was 17 rigs lower than one year ago. The latest gas rig count remains just above the top of the five-year range, while the oil rig count remains within the five-year range.
Featured Articles
- Analyst Insight
Canadian Drilling Rig Counts – Gas Rigs Fall, Oil Rigs Gain
Canadian oil and gas rig counts go in opposite and equal directions for the week ending March 1; oil up three and gas down three.
- Analyst Insight
Canadian Drilling Rig Counts – Gas Rigs Looking to Roll Over, Oil Rigs Remain in a Tight Range
The Canadian gas rig count slipped three last week and may now be on the verge of lower counts as spring break up approaches. Oil rigs held relatively steady, but may also be set to move lower.
- 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.
