Canada’s active rig count rose to 188 on August 25, an increase of 7 rigs compared to last Friday. This is the third week of increased rig activity in a row, and reflects August activity trends observed in prior years. Alberta’s active rig count increased from 128 on August 18 to 133 this morning, a 3.9% jump, while Saskatchewan’s rig count grew by 2. BC’s active rig count fell by 1, settling at 18 as of this morning.
With respect to target commodities, the number of oil rigs increased by 2 between August 18 and August 25, reaching 117 active oil rigs. The number of gas rigs also rose week-over-week, reaching 62 today. The number of rigs classified as “Other” or “Unknown” grew by 2 over the same period, settling at 9 rigs.
Today’s rig utilization rate is 43.4%, an slight increase from 43.3% at last week’s end. The total number of rigs rose from 418 to 433, a 3.6% jump. This suggests that, compared to last week, a larger pool of rigs is being more effectively deployed.