Baker Hughes has reported that for the week ending May 17, 2024, the US rotary rig count increased by one to 604 as compared to the previous week.
The number of rigs drilling for gas remained stable 103, while the number of rigs drilling for oil increased by one to 497, week on week. The overall US rig count is down by 116 rigs in a year-on-year comparison.
Meanwhile, the Canadian rig count decreased by two to 114 rigs in the week ending May 17. The Canadian rig count is now up by 31 rigs compared to the same reporting period in the previous year.