Canada’s active rig count came in at 170 this morning, an decrease of 14 rigs compared to November 17. Alberta’s active rig count decreased from 133 last Friday to 119 today, while Saskatchewan’s rig increased to 25. BC’s active rig count shrunk by 1, settling at 23 rigs today.
With respect to target commodities, the number of oil rigs dropped by 4 between November 17 and November 24. The number of gas rigs decreased by 6 over the same period, settling at 65 rigs. The number of rigs classified as “Other” or “Unknown” declined by 2 rigs.
Today’s rig utilization rate is 47.9%, a big jump from 44.2% at last week’s end. The total number of rigs decreased from 416 to 355, a substantial 14.7% decrease. This suggests that, compared to last week, a smaller pool of rigs is being deployed more efficiently.
For a closer look at this data, visit our rig count tool with data provided by the CAOEC.