Baker Hughes reported Friday that for the week ending May 17, the US rig count was unchanged from the previous week at 1,769, following increases the prior two weeks. Still, the rig count was down 217 rigs from the same week a year ago when active drilling rigs totaled 1,986. Oil rigs fell by four to 1,408 but were offset by a four-rig increase in gas rigs. Active rigs drilling for gas were 354 during the week.
After seven consecutive weekly drops, Canada's rig count increased by five to 123, unchanged from the same week a year ago.