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. The gas-directed rig count is 11 higher than at this time last year, and two higher than prior five-year high for this time of year (see left chart below), while the oil-directed rig count is 28 rigs higher than at this time last year, and 16 higher than the prior five-year high for this time of year (see right chart below).
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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 Count: Six Oil Rigs and One Gas Rig Added This Week
In Western Canada the oil-directed rig count increased by six this week, to 113 active rigs, which is 32% higher than the prior 10-year high for this time of year, while the gas-directed rig count increased by one to 54 rigs this week, in line with the prior five-year high for this time of year.
