Canada’s active rig count came in at 150 this morning, a 28 rig increase compared to last Friday. Albertan rig activity jumped to 97, an increase of 19 rigs compared to last week. Saskatchewan’s rig count increased from 18 to 28, while BC’s active rig count dropped from 21 to 20. This represents the first major spike in rig activity in months, suggesting the spring breakup may be at its end.
With respect to target commodities, the number of oil rigs increased from 71 to 96 between May 31 and June 7. Similarly, the number of gas rigs increased by 3. The number of rigs classified as “Other” or “Unknown” held steady at 7.
Today’s rig utilization rate is 40.3%, a noteworthy increase from 33.5% at last week’s end. The total number of rigs increased by 28, settling at 377.
For a closer look at this data, visit our rig count tool with data provided by the CAOEC.