Canadian Rig Counts - Gas Rig Count May Have Bottomed, Oil Rig Count Down By 6

For the week ending Thursday April 2, 2026, Baker Hughes reported that the Western Canadian gas-directed rig count fell by 4 rigs week-over-week, to 54 active rigs (flat year-over-year, 21 below the prior five-year high for this time of year), while the Western Canadian oil-directed rig count dropped by 7 week-over-week to 86 active rigs (down 12 vs. this time last year, which was the prior five-year high). Seasonally expected reductions to rig counts continued as "spring break-up" season takes hold. Active rigs in Northeast Alberta targeting horizontal oil wells (SAGD and other heavy oil targets) have not yet begun typical spring break-up declines, with the active rig count in that area holding up at 40 rigs.

For the week ending March 27, 2026, Baker Hughes reported that the Western Canadian gas-directed rig count fell by 5 rigs week-over-week, to 58 active rigs (blue line and text in left hand chart below), while the Western Canadian oil-directed rig count dropped by 19 week-over-week to 93 active rigs (red line and text in right hand chart below). At 58 rigs, the gas-directed rig count is 4 higher than this time last year, but well below the prior five-year high for this time of year of 81 in 2023, while the oil-directed rig count is 14 lower than at this time in 2025, which was the previous five-year high for this time of year. Rig counts in Western Canada tend to decline this time of year, especially oil-directed rig counts, as "spring break-up" season gets underway. Despite very strong oil prices, unseasonably warm weather through much of February and March has likely triggered a relatively early spring break-up season for oil drilling. 

The active oil and gas rig count in Western Canada was flat for the week ending April 24 according to Baker Hughes data. The active oil rig count gained one rig, with 76 rigs active last week, compared to 80 active rigs at this time last year. The active gas rig count fell by one rig to 52 rigs last week, compared to 47 rigs active this time last year. It looks like both rig counts will see higher spring break-up lows this year compared to 2025. The active oil rig count in Northeastern Alberta remains well above April highs from the past fifteen years.