Baker Hughes has reported that for the week ending May 20, the US rotary rig count dropped by two, following a nine-rig decline the week before. This brings the current US rotary rig count to 404. The number of rigs drilling for gas decreased by two to 85, while the number of rigs drilling for oil stayed neutral at 318. The overall rig count is still down by 481 rigs, year-on-year.
Meanwhile, the Canadian rig count increased by one in the week ending May 20 to 44, following a seven-rig increase the week before. The Canadian rig count is still down by 28 from the same week a year ago.
Meanwhile, the Canadian rig count increased by one in the week ending May 20 to 44, following a seven-rig increase the week before. The Canadian rig count is still down by 28 from the same week a year ago.