Canada’s active rig count came in at 211 this morning, an increase of 105 rigs compared to December 29. This increase, while large, is entirely expected as the annual holiday season activity lull comes to an end. Alberta’s active rig count increased to 156, while Saskatchewan’s rig count increased by 24. BC’s active rig count settled at 23, the highest level since December 21.
With respect to target commodities, the number of oil rigs increased by 83 between December 29 and January 5. The number of gas rigs rose by 17, settling at 74 rigs. The number of rigs classified as “Other” or “Unknown” increased to 8.
Today’s rig utilization rate is 55.1%, an increase from 20.1% at last week’s end and the highest rate we’ve observed in months. The total number of rigs fell from 352 to 383, an 8.8% increase.
For a closer look at this data, visit our rig count tool with data provided by the CAOEC.