Oil and Gas Rotary Rig Counts (Canada)
Oil and Gas Rotary Rig Counts: The total number of operating rigs in Canada for the week ending June 28th was 116 oil and 59 gas (totaling 175). In percentage terms, on a month on month (m/m) basis, oil rigs were up 56.8% and gas up 9.3%. On a year on year (y/y) comparison, rigs were up 6.4% for oil and up 1.7% for gas. The combined figure for y/y was +5.4% or +9 rigs.
Figure 1 shows the Baker Hughes Rotary Rig Counts for oil and gas equipment in Canada from 2014 to present.
At ˽¿âav, we monitor rig counts along with the price of oil and natural gas since it has a major impact on long product sales – including special bar quality sucker rods for downhole pumping strings, to merchant and structural products for rigs and oilfield equipment.
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