US rig count rises again while Canadian count trends neutral

US rig count rises again while Canadian count trends neutral

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Baker Hughes has reported that for the week ending October 16, the US rotary rig count increased by 13 to 282 rigs. The number of rigs drilling for gas increased by one to 74, while the number of rigs drilling for oil increased by 12 to 205. The overall rig count is now down by 569 rigs in a year-on-year comparison.

Meanwhile, the Canadian rig count remained stable at 80 rigs in the week ending October 16. The Canadian rig count is now down by 63 rigs compared to the same week a year ago.

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