Baker Hughes has reported that for the week ending May 24, 2024, the US rotary rig count decreased by four to 600 as compared to the previous week.
The number of rigs drilling for gas decreased by four rigs to 99, while the number of rigs drilling for oil remained stable at 497, week on week. The overall US rig count is down by 111 rigs in a year-on-year comparison.
Meanwhile, the Canadian rig count increased by six to 120 rigs in the week ending May 24. The Canadian rig count is now up by 33 rigs compared to the same reporting period in the previous year.