Canada’s active rig count grew week-over-week once again, settling at 180 on July 7 after reaching a 3-month peak of 190 active rigs on July 5. Today’s count exceeds the June 30 count of 167 rigs by 7.8% and continues an upward trend that we’ve observed over the past month. Alberta led the way with 9 additional active rigs compared to the week prior, and Saskatchewan followed closely behind with 5 additional rigs. BC’s 21 active rigs on July 7 matches the June 30 count.
There were 108 active oil rigs on July 7, a 3.8% increase from the previous week-end count. The number of gas rigs increased by 6, an 11.1% increase. There were 12 rigs classified as “Unknown” or “Other”, an increase of 3 rigs from June 30.
Rig utilization rates have increased as well, reaching 42.8% on July 7 compared to 41.0% on June 30. The total number of increased to 421 from 407 on June 30, signaling an increase in both the number of available rigs as well as the proportion of rigs that are being operated or transported.
For a closer look at this data, visit our rig count tool with data provided by the CAOEC.