Baker Hughes has reported that for the week ending May 13, the US rotary rig count dropped by nine, following a five-rig decline the week before. This brings the current US rotary rig count to 406. The number of rigs drilling for gas increased by one to 87, while the number of rigs drilling for oil declined by 10 to 318. The overall rig count is still down by 482 rigs, year-on-year.
Meanwhile, the Canadian rig count increased by seven in the week ending May 13 to 43, following a one-rig drop the week before. The Canadian rig count is still down by 34 from the same week a year ago.
Meanwhile, the Canadian rig count increased by seven in the week ending May 13 to 43, following a one-rig drop the week before. The Canadian rig count is still down by 34 from the same week a year ago.