Canada’s active rig count came in at 185 on November 3, an decrease of 12 rigs compared to October 27. Alberta’s active rig count decreased from 142 last Friday to 136 this morning, while Saskatchewan’s rig count decreased by 13.3%. BC’s active rig count also fell slightly, settling at 19 rigs today.
With respect to target commodities, the number of oil rigs decreased by 10 between October 27 and November 3, settling at 111 active oil rigs. The number of gas rigs held fast at 68. The number of rigs classified as “Other” or “Unknown” declined by 2 rigs.
Today’s rig utilization rate is 43.6%, a modest drop from 45.2% at last week’s end. The total number of rigs decreased from 436 to 424, a 2.8% decline. This suggests that, compared to last week, a smaller pool of rigs is being deployed less efficiently.
For a closer look at this data, visit our rig count tool with data provided by the CAOEC.