In what can only be viewed as confirmation of the spring break-up’s arrival, Canada’s active rig count came in at 154 this morning, 29 rigs fewer than last Friday. Albertan rig activity decreased, with the province’s active rig count falling from 140 to 118. Saskatchewan’s rig count fell by 6 (from 15 to 9), while BC’s active rig count held steady at 27.
With respect to target commodities, the number of oil rigs dropped from 107 to 79 between March 15 and March 22. In contrast, the number of gas rigs increased by 3. The number of rigs classified as “Other” or “Unknown” decreased from 11 to 7.
Today’s rig utilization rate is 42.1%, a decrease from 50.1% at last week’s end. The total number of rigs increased by 1, settling at 366.
For a closer look at this data, visit our rig count tool with data provided by the CAOEC.