Canadian rig count rebounds, U.S. drops

Petroleum News

The Canadian rotary rig count, following a month of hard times, soared during the week ending Oct. 3 and helped lift the overall North American rig count by a net 84 to 1,487, according to rig monitor Baker Hughes. The number of rigs operating in Canada rose by 88 to 396, up 166 rigs compared to the same weekly period last year. The U.S. rig count suffered a net loss of four rigs, reflecting a loss of 10 land rigs partially offset by a gain of six rigs in the inland water-offshore count. The total U.S. rig count stood at 1,091, up 234 compared to the same week last year.

In North America during the recent week, 932 rigs were drilling gas wells and 155 oil wells, while four were used for miscellaneous purposes, according to Baker Hughes. There were 714 vertical wells drilled versus 289 directional and 88 horizontal wells.

Among the leading producing states in the United States, Texas suffered a loss of 13 rigs to 453, New Mexico’s rig count dropped by four to 62, while California’s slipped by one to 25 rigs. Louisiana’s rig count rose by nine to 164. Wyoming was up by four rigs to 71. Oklahoma was up by one rig to 139. And Alaska gained one rig, bringing its total to nine for the week.