170 of the active rigs are drilling for oil (up from last week’s 81) as prices improved over the past several weeks on news of OPEC production cuts. Drilling rig counts are up nearly 100 rigs from one year ago.
Alberta added the most rigs week over week as its number skyrocketed from 150 to 220, according to numbers from Baker Hughes.
Total fleet utilization is at 48% according to numbers from the CAODC.