Baker Hughes has reported that for the week ending May 19, 2023, the US rotary rig count declined by 11 rigs to 720.
The number of rigs drilling for gas remained unchanged at 141, while the number of rigs drilling for oil declined by 11 to 575. The overall US rig count is down by eight rigs in a year-on-year comparison.
Meanwhile, the Canadian rig count decreased by nine to 85 rigs in the week ending May 19. The Canadian rig count is down by three rigs compared to the same reporting period last year.