Canadian rig count rises again week-on-week while US count continues downtrend

Canadian rig count rises again week-on-week while US count continues downtrend

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Baker Hughes has reported that for the week ending July 17, the US rotary rig count decreased by five to 253 rigs following a five-rig decrease the week before. The number of rigs drilling for gas decreased by four to 71, while the number of rigs drilling for oil decreased by one to 180. The overall rig count is now down by 701 rigs in a year-on-year comparison.

Meanwhile, the Canadian rig count increased by six to 32 rigs in the week ending July 17, following an eight-rig increase the week before. The Canadian rig count is now down by 86 rigs compared to the same week a year ago.

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