Canada’s active rig count rose to 176 on August 11, an increase of 11 rigs compared to last Friday. This marks the end of a four-week streak of declining rig activity, and reflects August activity trends observed in prior years. Alberta’s active rig count increased from 112 on August 4 to 126 this morning, a 12.5% jump, while Saskatchewan’s rig count held fast at 27. BC’s active rig count fell by 2.
With respect to target commodities, the number of oil rigs increased by 9 between August 4 and August 11, reaching 107 active oil rigs. The number of gas rigs also increased, reaching 62 this morning compared to 59 last Friday. The number of rigs classified as “Other” or “Unknown” fell by 1 over the same period, settling at 7 rigs.
Today’s rig utilization rate is 42.8%, an increase from 40.1% at last week’s end. The total number of rigs rose from 400 to 411, a 2.8% jump. This suggests that, compared to last week, a larger pool of rigs is being more effectively deployed.
For a closer look at this data, visit our rig count tool with data provided by the CAOEC.