US Oil and Gas Rig Count Update

In the latest report from Baker Hughes, the United States oil rig count saw a minor increase, adding one more rig to reach a total of 480 for the week ending February 2. This slight rise contrasts with a significant annual decrease of 19 rigs compared to the previous year.

Gas Rig Count and Total Rigs Overview

The gas rig count in the U.S. also experienced an uptick, with two additional rigs bringing the total to 100. However, this number is down by 21 rigs from the same time last year. Overall, the total number of rigs in the country now stands at 586, marking a weekly increase of 4 but a yearly decrease of 37.

Canadian Rig Count Details

Turning our attention north, Canada's rig count remained steady at 249 for the week. The oil rig count saw a decrease of 9, settling at 177, while the gas rig count held firm at 72. Despite the weekly drop, Canada's oil rig count has surged by 36 rigs compared to the previous year.