Increased oil drilling in Canada offset a decrease in the US rig count, leading to a 9-rig overall increase in the North American rig count for the week ended June 7, according to Baker Hughes data.
The rig count in Canada ended the week with an additional 15 rigs running. The rig count in Canada stood at 143, 7 more than were drilling this time last year. All 15 of the rigs added this week were drilling for oil, bringing the oil-directed rig count to 89 for the week. The gas-directed rig count in Canada remained unchanged at 54.
In the US, 6 fewer rigs were running for a total of 594. The count is down 101 from the 695 rigs working in the US this time last year.
US oil-directed rigs increased by 4 units to reach 492 drilling this week. The count is down 64 from this time in 2023. Gas-directed rigs decreased by 2 to 98. A year ago, 135 units were drilling for gas.
The number of rigs drilling on land decreased by 6 rigs from last week to 572. Drilling rigs in inland waters and offshore were unchanged at 0 and 22, respectively.
Of the major and gas producing states, Oklahoma dropped the highest number of rigs this week. With a 4-unit drop, the rig count in the state stood at 38 for the week. Louisiana, Pennsylvania and West Virginia each dropped a single unit to end the week with respective counts of 41, 21, and 5 rigs working. California added a rig to end the week with 4 working units.