Canadian rig count rises again while US count continues to slump

Canadian rig count rises again while US count continues to slump

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Baker Hughes has reported that for the week ending July 10, the US rotary rig count decreased by five to 258 rigs following a two-rig decrease the week before. The number of rigs drilling for gas decreased by one to 75, while the number of rigs drilling for oil decreased by four to 181. The overall rig count is now down by 700 rigs in a year-on-year comparison.

Meanwhile, the Canadian rig count increased by eight to 26 rigs in the week ending July 10, following a five-rig increase the week before. The Canadian rig count is now down by 91 rigs compared to the same week a year ago.

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