US rig count slides week-over-week while Canadian count rises

US rig count slides week-over-week while Canadian count rises

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Baker Hughes has reported that for the week ending August 14, the US rotary rig count decreased by three to 244 rigs. The number of rigs drilling for gas increased by one, to 70, while the number of rigs drilling for oil decreased by four to 172. The overall rig count is now down by 691 rigs in a year-on-year comparison.

Meanwhile, the Canadian rig count increased by seven to 54 rigs in the week ending August 14. The Canadian rig count is now down by 88 rigs compared to the same week a year ago.

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