Canada’s active rig count rose to 193 on August 18, an increase of 14 rigs compared to last Friday. This is the second week of increased rig activity in a row, and reflects August activity trends observed in prior years. Alberta’s active rig count increased from 129 on August 11 to 139 this morning, a 7.8% jump, while Saskatchewan’s rig count grew by 5. BC’s active rig count fell by 1, settling at 19 as of this morning.
With respect to target commodities, the number of oil rigs increased by 13 between August 11 and August 18, reaching 119 active oil rigs. The number of gas rigs did not change week-over-week, holding fast at 66. The number of rigs classified as “Other” or “Unknown” grew by 1 over the same period, settling at 8 rigs.
Today’s rig utilization rate is 45.0%, an increase from 43.4% at last week’s end. The total number of rigs rose from 412 to 429, a 4.1% jump. This suggests that, compared to last week, a larger pool of rigs is being more effectively deployed.