Spring drives Canadian rig count lower
The annual spring thaw is fully underway in Canada, and the country’s active rig count has responded accordingly, according to the March 25 report by oilfield service company Baker Hughes.
The number of rigs drilling north of the border fell by another 36 on the week, to 140 from 176 in the March 18 count. It marks the fourth straight decline for the active Canadian count, which has fallen from a winter peak of 224 in the last week of February.
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Oil-directed drilling led the latest decline, falling to 76 active rigs from 103 the previous week, while the gas-focused count fell to 64 from 73. Alberta saw the brunt of the drop, where the total count fell to 123 from 147, while BC drilling fell by one and Saskatchewan by seven.
In the US, where field activity is not impacted by the changing seasons, the number of active rigs this week increased by seven, to 670 from 663. The gas count was unchanged at 137, while the oil count rose to 531 from 524.