The rigs are on the rise. Baker Hughes reported an increase in U.S. weekly rig count on Friday, both offshore and onshore. Canadian numbers are up as well. Worth noting, the numbers are down when compared to the same period last year.
BHI Rig Count: U.S. +7 to 447 rigs
U.S. Rig Count is up 7 rigs from last week to 447, with oil rigs up 6 to 357, gas rigs up 1 to 89, and miscellaneous rigs unchanged at 1.
U.S. Rig Count is down 410 rigs from last year’s count of 857, with oil rigs down 281, gas rigs down 129, and miscellaneous rigs unchanged at 1. The U.S. Offshore Rig Count is 22, up 3 rigs from last week, and down 9 rigs year over year. BHI Rig Count: Canada +14 to 95 rigs
Canadian Rig Count is up 14 rigs from last week to 95, with oil rigs up 7 to 44, gas rigs up 7 to 50, and miscellaneous rigs unchanged at 1.
Canadian Rig Count is down 97 rigs from last year’s count of 192, with oil rigs down 54, gas rigs down 44, and miscellaneous rigs up 1.