US and Canadian rig count both rise week-on-week

US and Canadian rig count both rise week-on-week

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Baker Hughes has reported that for the week ending May 7, the US rotary rig count increased by eight to 448 rigs. The number of rigs drilling for gas increased by seven to 103, while the number of rigs drilling for oil increased by two to 344. The overall rig count is now up by 74 rigs in a year-on-year comparison.

Meanwhile, the Canadian rig count increased by four to 55 rigs in the week ending May 7. The Canadian rig count is now up by 29 rigs compared to the same week a year ago.

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