Canada’s active rig count came in at 221 this morning, a decrease of 22 rigs compared to February 16 and the second consecutive weekly drop. Alberta was behind much of this decrease, with the province’s active rig count dropping from 175 to 156. Saskatchewan’s rig count fell from 36 to 34, while BC’s active rig count held steady at 27.
With respect to target commodities, the number of oil rigs dropped from 153 to 143 between February 16 and February 23. Similarly, the number of gas rigs decreased by 6. The number of rigs classified as “Other” or “Unknown” decreased by 6.
Today’s rig utilization rate is 62.6%, a decrease from 64.1% at last week’s end. The total number of rigs decreased by 26 (6.9%), settling at 353.
For a closer look at this data, visit our rig count tool with data provided by the CAOEC.