Canadian rig activity continues to increase after plateauing through much of April and May. The number of active drilling rigs sits at 153 as of June 9, a 24 rig increase compared to June 2. This increase was due in large part to more activity in Alberta, where rig activity grew by 19% compared to June 2 levels. Rig activity in Saskatchewan also picked up over the past week, increasing by 6 rigs. In contrast, the number of active rigs in BC has dropped by 1 since June 2.
As of June 9, there are 102 oil rigs, 46 gas rigs, and 5 for “other” product types. Oil rig activity growth was particularly notable this past week, increasing from 77 on June 2 to 102.
Rig fleet utilization rates have also increased from 33.7% on June 2 to 36.2% on June 9. Importantly, both the number of active rigs (classified as either drilling or moving) and the total number of rigs increased.