Canada’s active rig count came in at 116 this morning, one rig fewer than last Friday. Albertan rig activity fell to 78, a decrease of 6 rigs compared to last week. Saskatchewan’s rig count held steady at 12, while BC’s active rig count increased to 21. If trends from prior years hold, we would expect to see a ramp up in activity next month.
With respect to target commodities, the number of oil rigs decreased from 65 to 62 between May 24 and May 31. In contrast, the number of gas rigs increased by 2. The number of rigs classified as “Other” or “Unknown” held steady at 5.
Today’s rig utilization rate is 33.5%, a noteworthy increase from 31.3% at last week’s end. The total number of rigs decreased by 28, settling at 346.
For a closer look at this data, visit our rig count tool with data provided by the CAOEC.