Rig report: U.S. market bounces back while Canada continues upward trend
Baker Hughes has released their latest rig report, which saw positive signs in both North American markets.
The U.S. rig count is up 3 from last week to 491 with oil rigs up 2 to 387, gas rigs unchanged at 103, and miscellaneous rigs up 1 to 1.
Overall, the U.S. rig count is up 244 rigs from last year's count of 247, with oil rigs up 211, gas rigs up 34, and miscellaneous rigs down 1.
The U.S. offshore rig count is unchanged at 14, up 2 year-over-year.
In Canada, the rig count is up 3 from last week to 156, with oil rigs up 2 to 95, gas rigs up 1 to 60 and miscellaneous rigs unchanged at 1.
Overall, the Canada rig count is up 109 rigs from last year's count of 47, with oil rigs up 82, gas rigs up 26 and miscellaneous rigs unchanged at 1.