Canada’s active rig count came in at 114 this morning, 13 rigs more than last Friday. Albertan rig activity grew to 83, an increase of 11 rigs compared to last week. Saskatchewan’s rig count bumped up by 2, settling at 10 rigs, while BC’s active rig count dropped to 20. This slight bump in activity may signal the beginning of the end of the spring breakup, in line with trends from prior years.
With respect to target commodities, the number of oil rigs increased from 49 to 63 between May 17 and May 24. In contrast, the number of gas rigs decreased by 1. The number of rigs classified as “Other” or “Unknown” held steady at 4.
Today’s rig utilization rate is 31.9%, a noteworthy increase from 29.7% at last week’s end. The total number of rigs increased by 17, settling at 357.
For a closer look at this data, visit our rig count tool with data provided by the CAOEC.