Canada’s active rig count settled at 190 on September 22, an increase of 6 rigs compared to last Friday. This marks another consecutive week of rig count growth, prolonging a strong run of activity that has seen the number of active rigs hold above 160 since late June. Alberta’s active rig count increased to 136 from 131 last Friday, while Saskatchewan’s rig count stabilized at 30 rigs. BC’s active rig count increased by 1, settling at 22 as of this morning.
With respect to target commodities, the number of oil rigs increased by 6 between September 15 and September 22, settling at 114 active oil rigs. The number of gas rigs remained unchanged, settling at 69. The number of rigs classified as “Other” or “Unknown” was also unchanged from last Friday, holding at 7 rigs.
Today’s rig utilization rate is 44.0%, a slight decline from 44.9% at last week’s end. The total number of rigs increased from 410 to 431, a significant 5.1% boost. This suggests that, compared to last week, a larger pool of rigs is being deployed slightly less efficiently.