Canadian rig activity continues to trend upwards, although today’s count is below the month’s peak of 170 active rigs on June 13. As of this morning, there were 168 active rigs in Canada. This represents a 5.7% increase over last week and a 12.0% increase over the week prior. Alberta added 7 rigs this past week, while Saskatchewan added 2. In some encouraging news, BC’s rig count grew for the first time in 2 weeks, reaching 19 active rigs as of today.
The number of active oil rigs continues to grow week-over-week, reaching 110 rigs on June 23 compared to 105 on June 16 and 97 on June 9. Gas rigs also grew by 8.5% this week, while rigs for other commodities held fast at 7.
Rig fleet utilization levels also continue to grow, reaching 39.0% on June 23 compared to 38.0% on June 16. There were also more 13 more rigs in total in Canada, suggesting the increased utilization rate is driven by a boost in real activity as opposed to a reduction in available equipment.
For a closer look at this data, visit our rig count tool with data provided by the CAOEC.