Canada’s rig counts plunge while US rigs fall moderately

Baker Hughes reported Friday that for the week ending December 28, the Canadian rig count was 204, plunging 180 since the week prior, and down 17 from the same week last year.

Meanwhile, the US rig count fell by 11 to 1,763, following a more substantial 25-rig drop in the prior week. On a year-over-year basis, the US rig count is down by 244 rigs. Rigs drilling for natural gas increased by two in the last week to 431 (down 378 year-on-year), while oil-directed drilling rigs dropped by 13 to 1,327 (up 134 year-on-year).