Baker Hughes' Canadian rig count for the week ending Friday May 15 showed the gas-directed active rig count rose by one last week to 48 (vs. 47 this time last year) while the oil-directed active rig count dropped by one to 74 rigs, but is still two rigs above the level a year ago, which was the prior five-year high for this time of year. One active rig targeting gas was added in the Alberta Foothills Front region, where 27 rigs were active drilling for gas last week. As for active oil-directed rigs last week, Saskatchewan went from three to four rigs, while the Central and the Foothills Front regions of Alberta each dropped a rig.
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- Analyst Insight
Canadian Rig Counts: Active Oil Rig Count Now 23% Above Prior Five-Year Seasonal High
Western Canada’s active oil-directed rig count jumped by 11 rigs for the week ending May 22, to 85 rigs, eclipsing 69 rigs that were active at this time last year, which was the prior five-year high for this time of year, according to Baker Hughes data.
- Analyst Insight
Canadian Rig Counts: Oil Rig Count Now 51% Above Prior Ten-Year Seasonal High
In Western Canada the oil-directed rig count jumped by another 22 rigs (+26%) this week, to 107 active rigs, which is 51% higher than the prior ten-year high for this time of year set in 2024, while the gas-directed rig count rose by five to 53 active rigs, 10 rigs higher than at this time last y
- Analyst Insight
Canadian Rig Counts: Gas Rigs Up Four, Oil Rigs Up Five, Both Above Prior Five-Year Highs
In Western Canada this week, the gas-directed rig count rose by four to 58 rigs, while the oil-directed rig count gained five to 119 rigs.
