Baker Hughes reported Friday that for the week ending January 4, the US rig count fell by one to 1,762, following an 11-rig drop the week prior. On a year-on-year basis, the US rig count is down 245. Rigs drilling for natural gas increased by eight to 439 during the week, while rigs drilling for oil fell by nine to 1,318.
On the other hand, Canada's rig count was 258, up 54 from last week when the rig count plummeted by 180 rigs. Canada's rig count remains down 108 from the same week a year ago.