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US rig count falls by 15; Canadian rigs climb by 118

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Essential Energy Insights - February 2021

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Six trends shaping the industries and sectors we cover in 2021

Six trends shaping the industries and sectors we cover in 2021


US rig count falls by 15; Canadian rigs climb by 118

After falling by nine the week prior, the combined oil and gas rig count in the U.S. tumbled by 15 to total 781 rigs during the week ended Jan. 10, according to the latest Rotary Rig Count released by Baker Hughes Co.

The count is down by 294 rigs, or 27%, from the same period a year ago.

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Oil-directed rigs came in at 659, down by 11 rigs for the week and 214 rigs lower than the corresponding period in 2019. Gas-directed rigs were pegged at 119, shedding four rigs for the week and down 83 rigs from a year ago.

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Among producing regions, the oil-focused Permian Basin saw a six-rig decline to 397 rigs, while the gas-focused Haynesville Shale noted a four-rig drop to 45 rigs for the week to Jan. 10. One-rig declines were also recorded at the Williston, Utica and DJ-Niobrara basins, which reported counts of 51, 10 and 19 rigs for the week, respectively. The Ardmore Woodford and Cana Woodford basins each added one rig for the week to come in at 2 rigs and 21 rigs, respectively.

Canadian rigs surged by 118 rigs to total 203 for the week to Jan. 10. The count is up by 19 rigs from the same period in 2019.

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