For the week ending February 16, Baker Hughes reported a net loss of one rig versus the prior week for the Canadian gas directed rig count falling to 90 (blue line in left hand chart below). For the oil directed rig count, it picked up three rigs to 144 (red line in right hand chart). The latest gas rig count is just above the top of the five-year range, while the oil rig count remains within the five-year range.
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- Analyst Insight
Canadian Drilling Rig Counts – Gas Rigs Steady, Oil Rigs Slip Lower
Canadian gas rig count held steady at 90 in the latest week, while oil slipped three to 141.
- 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.
