Baker Hughes has reported that for the week ending February 26, the US rotary rig count dropped by 12, following a 27-rig decline the week before. This brings the current US rotary rig count to 502. The number of rigs drilling for gas increased by one to 102, while the number of rigs drilling for oil declined by 13 to 400. The overall rig count is still down by 765 rigs, year-on-year.
Meanwhile, the Canadian rig count decreased by 31 in the week ending February 26 to 175, following a 16-rig decrease the week before. The Canadian rig count is now down by 155 from the same week a year ago.