Canada’s active rig count came in at 102 this morning, 6 rigs more than last Friday. Albertan rig activity grew to 75, an increase of 3 rigs compared to last week. Saskatchewan’s rig count bumped up by 2, settling at 6 rigs, while BC’s active rig count increased to 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 fell from 47 to 46 between May 10 and May 17. In contrast, the number of gas rigs increased by 6. The number of rigs classified as “Other” or “Unknown” increased by 1.
Today’s rig utilization rate is 29.4%, a noteworthy decrease from 31.4% at last week’s end. The total number of rigs increased by 41, settling at 347.
For a closer look at this data, visit our rig count tool with data provided by the CAOEC.