The count of total active rigs in the US fell by 2 to 1,053 week-on-week. The US oil rig count of 866 is down one rig week-on-week, but up 122 rigs compared to 744 in the same period last year. Gas rigs remained unchanged at 186 week-on-week.
Since June, the US oil rig count has held mostly steady at above 860 rigs as crude prices in the Permian region in western Texas and eastern New Mexico have collapsed due to a lack of pipeline infrastructure needed to transport more fuel out of the region.
Canadian rig counts dropped by 29 week-on-week to 197. The rig count was also lower by 23 compared to the same period a year ago. The oil rig count declined by 13 to 135 compared to 148 a week ago while the gas rig count declined by 16 to 62 compared to 78 also a week ago. Compared to a year ago in the same week, the oil rig count is higher by 13 compared to 122 sites while the number of gas rigs is 36 lower than the 98 gas rigs.