US
Oil: 409 (+16 vs. prior week; +22 vs. prior year)
Gas: 773 (+16 vs. prior week; -593 vs. prior year)
Total: 1,193 (+32 vs. prior week; -571 vs. prior year)
CA
Oil: 174 (-5 vs. prior week; +46 vs. prior year)
Gas: 194 (+19 vs. prior week; -47 vs. prior year)
Total: 368 (+14 vs. prior week; -1 vs. prior year)
Source: Baker Hughes, Inc.
Week over week change in the US was driven primarily by increases in Districts 6 and 8 in Texas, while the weekly change in Canada was based on an increase in Alberta, offset partially by a decrease in Sask.
While the overall land based rig count in the US remains below the five year range, the oil rig count has effectively recovered to levels prior to the collapse in prices last year. In Canada, the total count has recovered to five year range low seasonal levels.
While the overall land based rig count in the US remains below the five year range, the oil rig count has effectively recovered to levels prior to the collapse in prices last year. In Canada, the total count has recovered to five year range low seasonal levels.