For the week of January 16, 2026, Baker Hughes reported that the Western Canadian gas-directed rig count rose seven to 76 (blue line and text in left hand chart below), three more than a year ago, the lowest for this time of year since 2024, and the highest since the week of March 22, 2024. The oil-directed rig count gained 22 to 148 (red line and text in right hand chart), six less than a year ago, the lowest for this time of year since 2024, and the highest since the week of March 7, 2025. The increase in both categories is consistent with the fuller return of rig crews to drill sites following the yearend holiday break.
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- Analyst Insight
Canadian Drilling – Back to Work
Canadian rig crews got back to work after the holidays with major increases in oil and gas directed drilling.
- Analyst Insight
Canadian Drilling – Next to Last Gasp Before the Holidays?
Gas rig count remained fairly static while the oil rig count pushed to their first year-on-year gain since May.
- Analyst Insight
Canadian Drilling – Last Kick at the Can Before the Holidays
Rig counts held relatively firm just before the traditional downturn at the end of the year.
