US and Canadian rig counts see another strong week-on-week increase

US and Canadian rig counts see another strong week-on-week increase

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Baker Hughes has reported that for the week ending January 15, the US rotary rig count increased by 13 to 373 rigs. The number of rigs drilling for gas increased by one to 85, while the number of rigs drilling for oil increased by 12 to 287. The overall rig count is now down by 423 rigs in a year-on-year comparison.

Meanwhile, the Canadian rig count increased by 44 to 161 rigs in the week ending January 15. The Canadian rig count is now down by 83 rigs compared to the same week a year ago.

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