North American rig counts week ending July 9
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According to a recent report by WRTG economics, for the week ending July 9, the US rotary rig count increased 10 to 1,567. This reflects a 71.1 percent year-on-year increase from numbers reported during the same period in 2009.
The number of rotary rigs drilling for oil was up 5 at 592. This marks an annual increase of 358 from the number of oil rigs reported during the same time period in 2009.
Rigs directed toward natural gas were up 4 at 964. The number of rigs currently drilling for gas is 292 greater than last year's reported 672.
Canadian rig activity was up 25 at 348 for the week of July 9, 2010 and is 178 higher than last year's rig count. Canadian drilling falls rapidly in the spring to avoid environmental damage during the spring thaw and rainy season. It should be noted, though, that the Canadian drilling industry experiences wide seasonal swings, meaning year-on-year comparisons can lead to incorrect conclusions.
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