Canada’s active rig count came in at 109 this morning, two rigs more than last Friday. Albertan rig activity grew to 84, an increase of two rigs compared to last week. Saskatchewan’s rig count dropped by 1, settling at 3 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 56 to 47 between May 3 and May 10. In contrast, the number of gas rigs increased by 9. The number of rigs classified as “Other” or “Unknown” increased by 2.
Today’s rig utilization rate is 30.0%, a noteworthy decrease from 32.8% at last week’s end. The total number of rigs increased by 37, settling at 363.
For a closer look at this data, visit our rig count tool with data provided by the CAOEC.