Canada’s active rig count came in at 221 this morning, a decrease of 13 rigs compared to February 23 and the third consecutive weekly drop. Alberta was behind much of this decrease, with the province’s active rig count dropping from 169 to 162. Saskatchewan’s rig count fell by the same amount (from 34 to 27), while BC’s active rig count held steady at 27.
With respect to target commodities, the number of oil rigs dropped from 150 to 132 between February 23 and March 1. In contrast, the number of gas rigs increased by 6. The number of rigs classified as “Other” or “Unknown” decreased by 1.
Today’s rig utilization rate is 60.2%, a decrease from 63.2% at last week’s end. The total number of rigs decreased by 3 (0.8%), settling at 367.
For a closer look at this data, visit our rig count tool with data provided by the CAOEC.