Canada Recovers From Spring Rig Count Slump

June 20, 2011 in Industry Trends, News & Articles by

Canada looks to be rebounding from its seasonal drilling slump, while US numbers remain fairly steady.

According to the latest count by petroleum industry consulting firm Baker Hughes, the Canadian rig count jumped by 48 net rigs Friday for a total of 232, or 19 above 2010’s equivalent weekly count.

The US count increased by 1 net rig for a total of 1,855, or 328 above 2010’s count.

In the US, rigs geared for oil production increased by 10, while rigs geared for gas production fell by eight. One rig was lost that Baker Hughes classified as miscellaneous.

By state, New Mexico posted the largest net increase with seven new rigs, followed by Louisiana with six. Texas posted the largest net loss by state with 10 rigs, Steel Business Briefing notes.

For related articles, visit: http://www.steelbb.com/us/?PageID=183&article_id=93699

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