Canada’s active rig count came in at 113 this morning, one rig more than last Friday. Albertan rig activity grew to 88, an increase of one rig compared to last week. Saskatchewan’s rig count was unchanged through the week, remaining at 3, while BC’s active rig count held steady at 21. This is in line with what we observed last year, where activity was fairly static in May before picking up significantly through June.
With respect to target commodities, the number of oil rigs increased from 52 to 57 between April 26 and May 3. In contrast, the number of gas rigs decreased by 5. The number of rigs classified as “Other” or “Unknown” increased to 4.
Today’s rig utilization rate is 32.7%, a slight decrease from 33.5% at last week’s end. The total number of rigs increased by 12, settling at 346.
For a closer look at this data, visit our rig count tool with data provided by the CAOEC.