US rig count stays neutral, while Canadian count drops week-on-week

US rig count stays neutral, while Canadian count drops week-on-week

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Baker Hughes has reported that for the week ending February 19, the US rotary rig count remained stable at 397 rigs. The number of rigs drilling for gas increased by one to 91, while the number of rigs drilling for oil decreased by one to 305. The overall rig count is now down by 394 rigs in a year-on-year comparison.

Meanwhile, the Canadian rig count decreased by four to 172 rigs in the week ending February 19. The Canadian rig count is now down by 79 rigs compared to the same week a year ago.

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