The rig count in Canada fell by 62 rigs 42 rigs, according to Baker Hughes data. The drop is larger than the 42 taken offline last week. The month of decline includes back-to-back drops of 16 and 23 rigs in the weeks prior.
A total of 139 rigs were running in Canada this week, which is up from the 124 rigs working this time a year ago. The entire drop is attributable to oil-directed rigs, which fell by 28 this week to reach a count of 58. Gas rigs increased by 2 to 81.
In the US, a 3-rig drop brought the rig count to 755 for the week. The count is up from the 673 rigs running in the US this time last year.
US oil-directed rigs decreased by 1 unit to 592, up 59 from this time in 2022. Gas-directed rigs decreased by 2 units to 160. A year ago, 138 units were drilling for gas in the US.
The number of rigs drilling on land in the US was down 3 units, erasing the prior week’s gains. The count stands at 736 units working for the week. Horizontal rigs decreased by 1 unit to 691. Vertical rigs decreased by 3 to reach 13 for the week. One additional rig was drilling directionally, bringing the count to 51.
Texas saw the largest increase in rigs. With a 4-unit gain, the count stands at 376 for the week. Kansas gained its only working unit this week.
New Mexico’s rig count fell by 4 this week to leave 104 rigs working. Oklahoma dropped 2 rigs to 59, while Louisiana and Colorado dropped 1 rig each to reach respective counts of 57 and 19.
Offshore units were unchanged at 18, including 17 running in the Gulf of Mexico, the same as last week.
