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    Canada lifts North American rig count: Baker Hughes

Summary

Canada added 13 rigs, while the US rig count improved by five for the week ending July 16.

by: Daniel Graeber

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Canada lifts North American rig count: Baker Hughes

Baker Hughes reported July 16 that the addition of more than a dozen rigs to the Canadian upstream sector pushed North American activity higher.

Baker Hughes reported that Canada added 13 more rigs in the upstream sector during the week ending July 15, bringing the net total to 150. Gas rigs improved by seven, and oil activity accounted for the rest.

Historically, Canadian oil work outpaces gas activity by a factor of 2-to-1. Most of the upstream activity in the nation is centred in Alberta.

The US rig count improved by five, with the addition of two oil rigs and three gas rigs from last week bringing the total to 484.

Wyoming, home to the tight-gas Green River basin and the Powder River shale basin, saw the biggest gain for the week, with three more rigs in service. Oklahoma, host to the Anadarko basin, saw a net gain of two for the week.

The loss of two rigs in Texas, home of the Permian shale, was offset by gains of one each in Alaska and Louisiana.

As with Canada, most of the US upstream activity is focused on oil.

There were no changes to rig activity offshore in either country.

Oil and gas producers in North America continue to exercise restraint despite commodity prices improving dramatically over the course of a year. Discounting the pandemic, there were more than 1,000 active rigs across North America at this point in 2019.