In Western Canada, the gas-directed rig count rose by 2 to 59 rigs, while the oil-directed rig count gained 20 to 136 rigs, for the week ended July 17, according to Baker Hughes data. The gas-directed rig count is 9 higher than at this time last year, and 14 below the prior five-year high for this time of year (see left chart below), while the oil-directed rig count is 25 higher than at this time last year, and 13 higher than the prior five-year high for this time of year (see right chart below). The gains in the rig counts this week more than offset declines reported last week.
The active gas-directed rig count gained 2 in Alberta, gained 1 in British Columbia, and fell by 1 in Saskatchewan (see table below).
The Northeast Alberta (+7), Alberta Foothills Front (+5), and Central Saskatchewan (+6) regions accounted for 18 of the 20 net gains to the oil-directed rig count (see table below).
