US rig count increases week-on-week while Canadian count declines

US rig count increases week-on-week while Canadian count declines

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Baker Hughes has reported that for the week ending February 26, the US rotary rig count increased by five to 402 rigs. The number of rigs drilling for gas increased by one to 92, while the number of rigs drilling for oil increased by four to 309. The overall rig count is now down by 388 rigs in a year-on-year comparison.

Meanwhile, the Canadian rig count decreased by nine to 163 rigs in the week ending February 26. The Canadian rig count is now down by 77 rigs compared to the same week a year ago.

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