Canada posts another double-digit oil-directed rig count increase

Increased oil drilling in Canada offset a decrease in the US rig count, leading to a 13-rig overall increase in the North American rig count for the week ended June 14, according to Baker Hughes data.

The rig count in Canada ended the week with 160 rigs working, a 17-unit increase from the week prior. The count is up a single unit from the 159 rigs running this time last year. Fifteen of the additional rigs were drilling for oil, bringing the oil-directed rig count to 104 for the week. The gas-directed rig count in Canada increased by 1 to 55, and 1 rig was unclassified.

In the US, 4 fewer rigs were running for a total of 590. The count is down 97 from the 687 rigs working in the US this time last year.

The 4-unit decline in US oil-directed rigs offset the 4-unit gain the week prior and brought the total number of rigs working to 488. Gas-directed rigs were unchanged at 98. A year ago, 130 units were drilling for gas in the US and its waters.

The number of rigs drilling on land decreased by 3 rigs from the prior week to 569. Drilling rigs in inland waters were unchanged at 0, while the offshore rig count decreased by a single unit to 21 rigs working for the week.

Of the major and gas producing states, Texas and Louisiana both dropped 2 rigs to reach respective counts of 285 and 39 rigs running. Oklahoma’s rig count decreased by a single unit to 37 rigs working for the week. The only gain was in New Mexico. The state increased its rig count by 1 unit to end the week with 108 working rigs.