According to the latest report by Baker Hughes, for the week ending January 20, the Canadian rig count increased by 43 to 654 rigs and was up 33 year-on-year.
The US rig count also increased during the week ending January 20, rising by 21 to 2,008 rigs and remained up 295 year-on-year. Oil rigs increased last week by 32 to 1,223 and were up 425 rigs from the same week a year ago, while gas rigs decreased by 11 to 780, and were down 126 rigs year-on-year.