Canada leads North American rig count gains: Baker Hughes
For the second week in a row, upstream oil and gas activity in Canada pulled the North American rig count higher, Baker Hughes reported July 2.
In its weekly report, the active North American rig count increased by 15 to 611, with Canada leading the gains with a net increase of 10 for the week ending July 2.
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A reporting error from Baker Hughes means data on provincial activity are not up to date. In past weeks, Alberta and neighbouring Saskatchewan led overall gains in upstream activity.
There were 87 rigs drilling for oil in Canada during the reporting week, an increase of five, and 47 deployed for natural gas, an increase of three from the previous week. Two rigs were listed as “miscellaneous.”
The US rig count improved by five, bringing the total to 475. Rig counts remain suppressed compared with previous years as companies working in the US exercise restraint in favour of improved revenues during a period of elevated commodity prices, driven by demand exceeding supplies.
In the US, the Denver-Julesburg and Niobrara basins, situated largely in Colorado, saw the most net gains, with an increase of two to 11. The Permian, Williston and Marcellus shale basins each saw an increase of one rig. The Permian basin remains the most active reservoir in the Lower 48 states with its 237 rotary rigs in service.
In the US, there were 376 total rigs working in oil, an improvement of four from the previous week. One rig was added in natural gas, bringing the total to 99.
The active rig count offshore in the US Gulf of Mexico has been static at 14.