Rig counts in U.S. continue to dip while Canada sees another big rise
Baker Hughes has released rig count numbers for the week ending on July 24, with Canada once again moving North in regard to its numbers, while the U.S. industry remained stagnant at best.
The U.S. Rig Count is down 5 rigs from last week to 258 with oil rigs down 4 to 181, gas rigs down 1 to 75, and miscellaneous rigs unchanged at 2. U.S. Rig Count is down 700 rigs from last year's count of 958, with oil rigs down 603, gas rigs down 97, and miscellaneous rigs unchanged at 2.
The U.S. Offshore Rig Count is unchanged at 12 and down 14 year-over-year.
In Canada, the rig count is up 8 rigs from last week to 26, with oil rigs unchanged at 6 and gas rigs up 8 to 20. Canada Rig Count is down 91 rigs from last year's count of 117, with oil rigs down 79 and gas rigs down 12.
Additional information on the Baker Hughes Rig Count is available on the rig count website at http://bakerhughes.com/rig-count.